PHOENIX—Savills Studley represented utility software company iFactor with its long-term lease agreement at the new Hayden Ferry 3 development under construction in Tempe.
Ryan Bartos and Matthew Coxhead of Savills Studley's Phoenix office negotiated the transaction on behalf of iFactor; Bryan Taute of CBRE represented the landlord, Parkway Properties, Inc.
iFactor signed a lease for 17,000 square feet to accommodate future growth. The new space is located on the fifth floor of the building and will create an open floor plan to encourage collaboration. The firm has grown over 38% in 2015 and expects to grow an additional 45% within the next two years.
“We were able to negotiate deal terms at Hayden Ferry 3 that will help iFactor attract and retain great talent, including a great signage package and lease flexibility that accommodates their future needs from a growth perspective,” says Bartos. “Situated in the rapidly developing Downtown Tempe area, the location gives employers access to an abundant pool of talent with the largest public university in the country—Arizona State University—located only five minutes away, while also providing an amenity-rich downtown vibe that the millennial workforce is attracted to.”
The new iFactor office will feature a number of collaboration spaces and video conferencing in meeting rooms to support communication between employee teams and the utility companies using iFactor software. The Tempe-based company currently occupies 8,000 square feet of space at Hayden Ferry's second building and expects to move into its new space in December.
Over the last 24 months, Bartos and Coxhead have completed three transactions within the development and are consistently impressed with Parkway Properties' ability to think outside the box to maximize tenant satisfaction.
“It is exciting to see local firms continue to flourish in this market and we look forward to seeing iFactor's future success,” adds Coxhead.
Hayden Ferry 3 offers custom-build, modern office space that features views of the Tempe Town Lake and the surrounding area, an on-premise gym facility and close proximity to Mill Ave, which touts a variety of restaurants. Phoenix's light rail is located only a few blocks away.
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