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PHOENIX-Two law firms have signed leases in one of the most popular office areas in the Valley.

The law office of James J. Evert is taking 5,300 sf and Eagle Burger Law Group, 3,100 sf. The two are joining the roster at Concord Place, a class A office building at 2999 N. 44th St. The Phoenix office of Grubb & Ellis, with brokers Larry Downey, Jerry Jacobs and Mike Myrick, represented the landlord in the lease negotiations.

The 133,300-sf Concord Place is in the Gateway submarket, which is just north of Phoenix Sky Harbor International Airport. The submarket, bounded by Indian School Road to the north, Buckeye Road to the south, 36th Street to the west and Mill Avenue to the east, has in the past few years become one of the more sought after locations for office tenants. In addition to the close proximity to the airport, it’s at the focal point of several major thoroughfares, including Interstate 10, Hohokam Expressway and the Red Mountain Freeway section of Loop 202.

The vacancy rates in the Gateway area stand at 11.8%, the second lowest in the Valley. The area offers cheaper rents than the Camelback Corridor, which is just to the north of the area. The asking rents for class A office space averages about $23.31 per sf while class B is bringing $21.67 per sf in comparison to Camelback Corridor’s $26.77 per sf and $23.27 per sf for class A and B, respectively.

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