Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-Two law firms have signed five-year leases at Concord Place, located at 2999 N. 44th St. in the Gateway submarket.

Joining the tenant roster is the law firm of James J. Evert, taking 5,327 sf, and Eagle Burger Law Group, 3,067 sf. The 133,289-sf, class A Concord Place is considered one of the premier addresses in the submarket. The Phoenix office of Grubb & Ellis, with broker Larry Downey, Jerry Jacobs and Mike Myrick, represented the Texas-based building owner, Presidio Investments II LLC and both law firms in the lease negotiations.

The Gateway submarket encompasses the area of Indian School Road to the north, Buckeye Road to the south, 36th Street to the west and Mill Avenue to the east. At the heart of the submarket is Sky Harbor International Airport. The Red Mountain Freeway, the Hohokam Expressway and Interstate 10 all crisscross the area, making it a desirable location.

Gateway’s 11.8% vacancy rate is the second lowest in the region. Tenants find the submarket to be a more economical alternative to the nearby Camelback Corridor. The asking price for the class A office space average $23.31 per sf and class B, $21.67 per sf versus Camelback Corridor’s $26.77 per sf for class A and $23.27 per sf for class B.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.