The northwest Valley school will relocate in August to the Corporate Center at 10400 N. 25th Ave. from 2525 W. Beryl Dr. College leaders have signed a $3.5-million, seven-year lease that will double the college's space to 28,251 sf.
Mike Sayre, with Cushman & Wakefield of Arizona Inc., tells GlobeSt.com that the building will give upgraded accommodations while allowing the school to stay in the same location close to the Valley's freeway system. The college, a branch campus of Corinthian Colleges Inc., a nationwide for-profit, post-secondary education company, will take about half of the ground floor's 55,000 sf.
The building was vacated last June by American Express. Several prospective tenants currently are negotiating for the remaining class A space, said Sayre. The 108,000 sf, two-story building also is home to Hartford Insurance. The school, one of 67 colleges in 21 states owned by Corinthian Colleges, offers degrees in business, criminal justice and allied health.
Sayre along with Tim Whittemore and Mike Beall, also with Cushman & Wakefield of Arizona, negotiated the transaction on behalf of the building owner, Clarion Partners LLC of New York City, which manages more than $10 billion in real estate assets worldwide. Wally Hale of the Staubach Co.'s Phoenix office and Paul Dimeo with Staubach's Irvine, CA, office assisted Corinthian Colleges in the lease negotiations.
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