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PHOENIX-The Internet Tax Group is busy today unpacking at 14,516 sf that it’s taken in a five-year lease at Phoenix Plaza, part of a class A three-building complex along N. Central Avenue in Phoenix’s CBD. The deal is valued at nearly $1.4 million over the term of the contract.

Jeff Wentworth of Grubb & Ellis Co.’s Phoenix office tells GlobeSt.com that the firm relocated from about 6,000 sf of suburban class A office space in Tempe. The move and expansion, he says, is due in part to recent funding round that added $5 million to the corporation coffer. The tax software company was on a site search for about three months before settling on the 18th floor in the Shorenstein Realty Advisors-owned building at 2929 N. Central Ave. Wentworth represented the tenant and Shorenstein used in-house broker Dave Heiple to negotiate the deal for the owner of record, SRI Phoenix Plaza Venture LLC, a Phoenix-based operation.

“The rate was good and the location was good,” says Wentworth. Internet Tax Group started off eyeing up sublease space being vacated by ADP Fluor Daniel, but talks ended up in a direct-lease signing. The new tenant employs about 50, but is poised to take its head count to roughly 70 by the end of first quarter 2002.

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