The move into the 20,200 sf of office space at 2800 N. Central Ave. represents an expansion for the insurance giant, which formerly operated on two floors in Citibank Plaza at 4041 N. Central Ave., just a few blocks from its new location. "They wanted to upgrade to a newer, class A building," Jerry Jacobs, leasing agent for Gaedeke Landers tells GlobeSt.com of the $2.5-million deal, which will put Brown & Brown across the street from the Phoenix Plaza in one of the most recognizable buildings in central city.
Sabine Gaedeke Steners, executive vice president of Dallas-based Gaedeke Landers, tells GlobeSt.com that attracting the new tenant involved fierce competition with other building owners, but in the end, the 20-story office tower's image won out. "We competed with several properties and got chosen because the (leasing) package, layout and image of the building were superior," she says, adding free rent concessions helped ease the insurance firm's decision.
"They had a lot of landlords chasing them," Jacobs adds. "It was a pretty competitive deal in the market."
The company will push the building's occupancy rate into the mid-70% range. The building also is home to such notable tenants as the law firms of Jennings, Haug and Cunningham plus Mohr, Hackett, Pederson, Blakely & Randolph.
Jacobs represented the building owner in the lease negotiations. Jay Hoselton with Cushman & Wakefield of Arizona Inc. brokered terms for the tenant.
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