TEMPE, AZ-Pulte Homes’ Home Office Extension Group has taken the keys to 40,000 sf of class A office space in a move prompted by the sale of its former offices.

Larry Downey, senior director with Cushman & Wakefield’s Arizona office, tells GlobeSt.com that National Bank of Arizona’s purchase of Pulte’s former home in the Del Webb building at North 24th St. in Phoenix sparked a yearlong search for new accommodations that ended in a 10-year lease at the Papago Buttes Corporate Plaza. The company expects to move into the building in June 2003.

The $6.5-million deal will give the area builder a modern facility with upgraded technology and amenities, says Downey. “Not only does it have a lot of onsite amenities,” he explains of the 1230 W. Washington St. plaza, “but it has a lot of internal cabling and other capabilities that will work well for their type of use.”

The 160,000-sf office facility, the second phase of a multi-building office development owned by Tosco, is primarily occupied by Conoco Phillips. Other tenants include State Farm Insurance and Tectura Corp. About 80,000 sf remains up for lease in the building, where the going rate goes from $22.50 per sf to $23.50 per sf.

Mike Beall and Tom Johnston, both of Cushman & Wakefield, are the leasing agents for Papago Buttes Corporate Plaza. C&W’s Downey and Don Arones of Grubb & Ellis represented Pulte Homes in the lease negotiations.

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