The San Antonio-based media company will consolidate eight Valley radio stations into the 115,000-sf, class A building, which will be developed and owned by McShane Corp. and Globe Corp. The four-story project at 4686 E. Van Buren St. is a twin to East Gateway Centre One, currently 80% occupied.

The second phase will be completed in December 2005. Clear Channel, planning an early 2006 occupancy, will take over the second, third and fourth floors. The Clear Channel stations currently are located at 600 E. Gilbert Rd. in Tempe and 645 E. Missouri Ave. in Phoenix. The FM and AM stations slated to go under one roof are KNIX, KEZ, KMXP, KISS, KYOT, KFYI, KOY and KGME.

Michelle McDonald of Media Realty Partners in Austin, TX, in conjunction with Tom Auther of Jacor Partners in Phoenix, represented Clear Channel in the negotiations. The St. Louis-headquartered McShane was represented internally by vice president Alan Gillespie. Wells Fargo Bank is providing the financing for the project, which was designed by Phoenix-based architect DFD CornoyerHedrick.

East Gateway Centre provides a central location with immediate access to the major interstates and Sky Harbor International Airport. Other touted amenities are the development's views of Squaw Peak, Camelback Mountain and the Papago Buttes and 5:1,000 parking ratio.

Clear Channel joins a tenant roster at East Gateway Centre that includes Alliance Bank of Arizona, Coldwell Banker Success Realty, Fuller Theological Seminary, Layton Southwest Inc., Long Technical College, Malcolm Pirnie Inc., Minard Ames Insurance Group, Newquist Ault Commercial Properties and Rosen Investments.

Instant Insights /

$15M Clear Channel Lease Jumpstarts 115,000-SF Office Project

Related Stories

Recommended For You