MESA, AZ—The Fiesta District has become a target destination for major companies, with a captive audience of more than a million people residing within a 10-mile radius of Centrica, the new adaptive reuse project. This, combined with a $25.3 million Southern Avenue streetscape investment by the city, suddenly vaulted the area into a magnet for workers and residents.
In one of the largest Arizona real estate transactions of 2015, Banco Santander's US Consumer group subsidiary, Santander Consumer USA Holdings Inc. signed a 10-year lease for the entire 117,000 square foot project. Santander Consumer will move into Centrica in the new year, netting Mesa's Fiesta District almost 1,000 new jobs.
The developer and owner of Centrica, Phoenix Rising Investments LLC, along with Legacy Equity Partners, collaborated with a team to develop the back-office facility located in the Southeast Valley. The transit-friendly development has access to seven bus stops within a quarter mile and two bus stops within 50 feet of the property. Willmeng Construction Inc. and Nelsen Partners designed the environmentally conscious project with abundant parking and redundant fiber optic backbone connectivity. Evolution Design and Willmeng Construction will complete the build-out of tenant improvements.
Michael Hsiung, principal of Phoenix Rising Investments, tells GlobeSt.com: "Centrica was truly a team effort. A talented team of people collaborated on the project and we at Phoenix Rising Investments are excited about the future at Centrica and our other projects."
Banco Santander is a retail and commercial global bank, with a presence in 10 main markets, 102 million customers, and approximately 14,700 branches—more than any other international bank—and 193,000 employees. Santander Consumer USA Holdings, Inc. is a publicly traded consumer finance company, specializing in auto finance and unsecured consumer lending products.
"The area's walkability, mass transit access, abundant freeway accessibility, redundant fiber network and proximity to a workforce of more than 1.7 million people within a 20-minute drive, make it an ideal location for high-tech and multinational companies such as Santander," said Hsiung.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
