The converted mall at 4343 N. Scottsdale Rd. won out over other sites because of its prime address and its leasing rates, which average in the mid-$20 per sf range, says Jerry Roberts with CB Richard Ellis, a broker in the deal. The lease marks LifeWise's first location in the Phoenix market.
"They were looking for a Class A office building with good amenities and economics," says Roberts, who represented the landlord. Luke Walker and Jerry McCormick of CB Richard Ellis represented LifeWise, which is already working out of temporary space in the building en route to full occupancy by February.
Purchased just two years ago by JEMB Realty of New York City, the 606,521-sf Galleria Corporate Center underwent $65 million in renovations to turn it into one of the premier office and retail complexes in downtown Scottsdale.
In the past month alone, the building has taken on four other tenants: AZ-Milestone Equities, Spherion Pacific Enterprises, MSC Life Insurance Co. and AZ-MSC Life Insurance . The property is also home to the Scottsdale Culinary Institute.
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