PHOENIX-Oakwood Corporate Housing has picked Corporate Center for its new regional headquarters.
The Los Angeles-based firm signed a five-year lease for 24,765 square feet of class B office space at 9630 N. 25th Ave., one of the eight office buildings that comprise Corporate Center. It is in the process of relocating to its new offices from 8804 N. 23rd Ave.
“Oakwood Corporate Housing was previously housed in a single-story flex, and they saw an opportunity to get into a nicer building and reconfigure their space to be more efficient,” says Jim Achen Jr., a senior vice president with Transwestern’s local office.
Achen and Bill Zurek, also a senior vice president with Transwestern, represented the landlord, Bay Pacific Phoenix Corporate Center LLC. Keith Lambeth, senior vice president with Colliers International, and Kirby Greenlee, senior vice president with Grubb & Ellis’ Los Angeles office, represented Oakwood Corporate Housing.
Achen tells GlobeSt.com that Oakwood Corporate Housing evaluated at least 10 different buildings in the northwest Phoenix submarket. Negotiations for the Corporate Center deal spanned six months.
“They had a lot of options, but the building at Corporate Center offered big floorplates of 30,000 square feet so they could fit their entire requirement on one floor,” Achen notes. “And the building offers good freeway accessibility and retail amenities within walking distance.”
Beyond those elements, the space at Corporate Center already had nice tenant improvements in place from the previous tenant, a healthcare-related firm that moved out more than 12 months ago. “Oakwood Corporate Housing doesn’t need to do a lot of work to the space, so they’re able to move right away,” Achen explains.
With the Oakwood Corporate Housing lease, the 440,000-square-foot Corporate Center campus is 75% leased.
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