"East Gateway Centre was strategically chosen because of its capacity to accommodate growth as well as its convenient access for East Valley students," Jay Hoselton, senior director with Cushman & Wakefield of Arizona Inc., tells GlobeSt.com. He says the new location, the school's second in the city, allows the college to serve the entire Valley. The school, part of the Higher Education Division of Kaplan Inc., a subsidiary of the Washington Post, also operates a technical institute at Interstate 10 and Thunderbird Road in northwest Phoenix.
The school, which offers programs in a variety of technical and medical disciplines, will move from 111 W. Monroe St. into the East Gateway facility, which goes to 60% occupancy with the signing. The building is the first of two planned for the 4646 E. Van Buren St. site. Other tenants are Malcolm Pirnie, a national engineering firm, Alliance Bank, Coldwell Banker Success Realty and Layton Construction.
Although he's not discussing the lease terms, Alan C. Gillespie, vice president of McShane Corp. which developed the 115,000-sf building in a joint venture with Globe Corp., says the property rents for about $23.50 full service. He represented the building owner, East Gateway One LLC, a partnership of the McShane Corp. and Globe Corp. Hoselton and Franklin Speyer of Cushman & Wakefield's Midtown Manhattan negotiated terms on Kaplan Inc.'s behalf.
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