Grubb & Ellis Co. senior associate Mike Myrick, part of a trio representing the tenant, tells GlobeSt.com that TriWest started looking for expansion space just a few months ago. "It's a great mixed-use project," he says of the 750,000-sf holding of Scottsdale-based CMB III LLC, a division of Cashen Realty Advisors. Metro North Corporate Park, located at 13450 N. Black Canyon Highway, is a 25-year-old property that underwent a major upgrade a year ago.
In addition to Myrick, the Grubb & Ellis negotiating team consisted of senior vice presidents Larry Downey and Jerry Jacobs. Phile Bridanbach of Colliers International's Phoenix office represented the building owner.
Key to the signing was TriWest's desire to stay in the same submarket, where it's been a tenant for better than five years, says Myrick. The Metro North Corporate Center is just one of several buildings in the Interstate 17 business corridor that is seeing renewed interest from would-be tenants. It's a turn-around coming after nearly a decade of tenant loss. TriWest is a Phoenix-based management service organization that oversees 16 states in the Central Region for the US Department of Defense's TRICARE program.
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