The 13-year-old, 132,500-sf building provides great access to Loop 101 for employees, Mike Myrick with the Phoenix office of Grubb & Ellis Co. tells GlobeSt.com. The space also accesses the Northwest Phoenix/Arrowhead area, a submarket that the company is targeting for customers, he adds. The building's quoted rate is $22 per sf.
Myrick handled the tenant side of the negotiations, but wouldn't disclose the lease's value. Bill Zuvek of the Phoenix office for Chicago-based Transwestern Commercial Services represented the building owner, Metropolitan Life Insurance of White Plains, NY.
Myrick also represented the architectural firm, Acturis, in a move into 1,270 sf at Compass Center, positioned at 3150 S. 48th St. in Phoenix. It is the first Arizona office for the St. Louis-based architectural firm. Mike Garlic of Phoenix-based Lee & Associates Arizona represented the building owner, JVT Asset Management.
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