PHOENIX-After a year of negotiations, Gaedeke Group has closedfour deals totaling 16,671 square feet at 2800 Tower, bringing the365,000-square-foot high-rise to 70% occupancy.

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Two of the leases are new tenants that have relocated from otherbuildings in Midtown Phoenix. The new tenants are: law firm PalumboWolfe & Palumbo P.C., which committed to 7,061 square feet, andsocial-services firm Arizona Coalition Against Domestic Violence,which took 3,737 square feet.

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Two of the leases are renewals: law firm Katz & Bloom P.L.C.re-leased 2,233 square feet and computer consulting firm of SunturnIT Consulting Group re-upped for 3,640 square feet. Their leaseswere coming up for renewal, according to Jim Achen, Jr., a seniorvice president with Transwestern’s local office.

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Achen and William Zurek, also a senior vice president withTranswestern, represented Gaedeke Group, along with vice presidentVince Femiano and senior associate Travis Ives. The tenants wererepresented by Darius Green of Cresa Partners, Chris Brien ofLevRose, and Chris Jantz of Cassidy Turley/BRE Commercial.

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“More than anything these leases show people are willing to makedecisions,” Achen tells GlobeSt. “People who have survived thisdownturn feel reasonably good that they will continue to survive sothey’re moving forward with their leasing decisions. Other folksthink that lease rates have come down so dramatically, they want totake advantage of what they perceive as the bottoming of themarket.”

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Achen says all four tenants shopped the market before committingto 2800 Tower. “They came back to 2800 Tower because of thebuilding’s long-term ownership and the quality of the building,” heexplains. “We’ve got a lot of office buildings in Phoenix withfinancial challenges, and that’s not a problem for this owner orthis building.”

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Located at 2800 N. Central Ave., the 20-story, class A buildingwas built in 1988. It lost its largest tenant, Mercy Care, when thecompany needed to expand beyond its 100,000-square-foot footprintand 2800 Tower could not accommodate it.

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“We’re continuing to chip away at the vacant space,” Achen says.“We got some positive momentum with these four leases, and we’reinto several rounds of negotiating on several large deals.”

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