Video Game Demand Brings 20,000-SF Expansion

Don Mudd with Trammell Crow Co.'s Phoenix office tells GlobeSt.com that the game maker inked a seven-year flex lease valued at more than $3 million, adding 20,000 sf to its operation just six months after they moved into 4722 N. 24th St. in the Camelback Corridor. "THQ was very astute to secure its future and take advantage of the market," Mudd says. "This time next year vacancies and rental rates will be much different, making contiguous expansion virtually impossible, not to mention much more costly."

The game maker, which develops games for Sony, Nintendo, X-Box and Game Cube, will share the 313,907-sf, two-building complex at 24th and Highland streets with Ford Credit, Century Insurance and Kronos under a lease arrangement that brings the four-story complex to 89% occupancy. Mudd, along with John Bonnell and Jason Moore, also with TCC, represented the New York City-based building owner, TIAA-CREF, in the negotiations. THQ Inc. was represented by Shawn Greenway with Grubb and Ellis/BRE Commercial in Phoenix.