PHOENIX-Transwestern's team recently negotiated four leases totaling close to 100,000 square feet. One of the leases involved a 52,000-square-foot renewal and expansion for Health Choice Arizona Inc. at Three Gateway.

Health Choice Arizona, one of the state's leading managed health care plans, has been a tenant at the Class A building, which is part of the Phoenix Gateway Center, for five years. Three Gateway is at 410 N. 44^th St. Transwestern senior vice presidents Jim Achen Jr. and Bill Zurek represented the landlords Pearlmark Real Estate Partners LLC and a subsidiary of a real estate fund managed by Oaktree Capital Management LP. Transwestern is the property management firm for Gateway. First vice president Mike Ragland of CBRE represented Health Choice Arizona.

In addition, Transwestern negotiated the following leases:

• Ameriprise Financial Inc. leased 34,000 square feet at Canyon Corporate Plaza II, 2512 Dunlap Ave., Phoenix. . Zurek and Achen were Transwestern's lead brokers on behalf of the building owner, Canyon Corporate Plaza Properties LLC. Dave Barrett of CBRE represented Ameriprise Financial.
• CareerBuilder LLC signed a long-term lease for nearly 5,000 square feet in the Scottsdale Financial III property, at 7272 E Indian School Rd. in Scottsdale, AZ. CareerBuilder was represented by Transwestern executive president Vineet Sahgal, with assistance from Zurek and Achen. Brian Raczynski of Colliers International represented the private owners of Financial III.
• Strategic Media Advertising signed a lease for nearly 7,000 square feet at Camelback Plaza West, 1990 W. Camelback Rd., Phoenix. Zurek and Achen represented landlord Southwest Commercial Property LLC in the direct deal with the tenant.

“Our market research shows that the Phoenix office vacancy rate is now below 20%. That's still behind the national vacancy rate of slightly less than 12%, but it's a very positive sign for Phoenix, especially since rental rates and net absorption also increased over the previous quarter,” Zurek comments.