Meritage Plans HQ Move toRaintree Corporate Center

PHOENIX-Meritage Homes has solidified its plans to move to its headquarters to Raintree Corporate Center III by signing a long-term, 57,784-square-foot lease at the office building. Meritage, the ninth-largest public homebuilder in the United States, will relocate from its current digs at 85^th Street and Perimeter Drive to the 167,300-square-foot building in early 2014.

Brad Anderson, Bryan Taute and Michael Strittmatter of CBRE’s Phoenix office represented the landlord, iStar Financial Inc. of New York, NY, in negotiating agreement for space at 8800 E. Raintree Dr.  The tenant was represented by Tom Adelson, also in CBRE’s Phoenix office. The exact terms of the transaction were not disclosed, though asking rents in the area can range between $18 per square foot to $26 per square foot.