PHOENIX-Northern Arizona University has leased 40,355 square feet in Arizona Business Park. The Flagstaff, AZ-based NAU already has space in the park, and the new lease allows it to occupy 60% of a new building, which is owned by Crown West Realty of Spokane, WA.
The park, which is situated along the Black Canyon Freeway (Interstate 17) and Thunderbird Road, contains a variety of office and flex facilities. The 11-year lease for ASU at 15451 N. 28th Ave. will commence during Q1 of 2014.
“NAU was pleased with the overall location of its campus, but needed modernized space configured to suit the changing designs of higher education space,” says Larry Downey, vice chairman of Cushman & Wakefield in a press release.
“This represented an ideal opportunity to remain within the Arizona Business Park, while creating a customized space that accommodates the university’s requirements. The close proximity of this facility will allow university executives to very conveniently oversee the completion of new space and implement a very cost-effective relocation,” adds Fred Hurst, senior vice president of NAU’s Extended Campuses.
Downey, Jerry Jacobs and Emily Fickett of Cushman & Wakefield of Arizona Inc. represented NAU in the lease negotiations.