X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MESA, AZ-Aurora, IL-based Metropolitan Life Insurance has renewed and expanded their lease at the Financial Plaza at 1201 South Alma School Road in Mesa by a bit over 6,000 sf for a total of 12,907 sf.

Tyler Smith, with the office advisory division of the Phoenix office of Grubb & Ellis tells GlobeSt.com the Metropolitan Life Insurance came into the building in 1998 with just over 6,000 sf. With a year left on the original lease, the firm decided to renew and expand. At the heart of the expansion, says Smith, is the consolidation of several other Metropolitan Life Insurance offices in Scottsdale to the Financial Plaza.

The new deal has the firm occupying the majority of the sixth floor in the 295,847 sf, class office building. The six-year lease is valued at nearly $2 million.

Smith represented Metropolitan Life Insurance in the lease transaction. The building’s owner, Phoenix-based Biltmore Holdings represented themselves.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.