The five-year lease at the single-story, garden-style office and business center in the Eastside Business Park is valued at $242,000 over the contract term. The armored car and security company presently occupies about half that space in the same Eastside Business Park location, Mark Detmer of Dallas-based Trammell Crow Co.'s Phoenix office tells GlobeSt.com.
Detmer, Bo Mills and Justin Carlson brokered the deal for the building owner, UBS Realty Investors of San Francisco. The realty investment firm owns and operates the nine-building, 245,000 sf office park located just two miles from Scottsdale. The park's proximity to Scottsdale has allowed it to maintain a 95% occupancy rate, Detmer says.
While the location is ideal, Detmer says it also offers something more to renters--a significant reduction over Scottsdale's rental rates. Tenants who don't want to pay Scottsdale rates can get into Eastside Business Park at a fraction of the cost," he said. Brinks Home Security saved an estimated 30% to 40% over the cost of rents just down the street in Scottsdale, he notes.
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