Kyler Kienholz of the Phoenix office of Lee & Associates Arizona tells GlobeSt.com the new spot at 1201 S. Alma School Rd. offered three months free rent, a better location for the group's employees and turn-key tenant improvements. Kienholz, along with Lee & Associates' R. Craig Coppola, represented Firstar/US Bank in the bargaining.
The lease is for a 63-month term, says Kienholz. It is valued at $21.50 per sf for the first year and carries 50-cent per sf annual rent increases.
Dave Seeger with the Phoenix office of Insignia/ESG represented the building owner, Biltmore Financial Plaza. The class A Mesa Financial Center is a 295,847-sf, 74%-occupied building. In January, Firstar merged with Minneapolis-based US Bank to form a diversified financial services company.
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