Dallas Firm Inks $15.3M Phoenix Office Lease

PHOENIX-Dallas-based MEGA Life and Health Insurance Co. has taken the keys to 75,011 sf of office space at the Concorde Corporate Center with a 10-year lease valued at $15.3 million that will nearly double the size of the firm’s corporate offices.

In January, the company, which specializes in marketing and administrating limited benefits plans for entry-level employees, will take over a portion of the first and third floors plus the entire second floor in the 2222 W. Dunlap Rd. building.

Mark Bauer with CB Richard Ellis Inc.’s Phoenix office tells GlobeSt.com that the move was necessitated by the company’s purchase in March of the privately held STAR HRG and STAR Administrative Services. STAR HRG’s corporate and sales offices are presently located at 2036 E Camelback Rd. while the STAR Administrative Services’ claims and call center is at 3326 W. Catalina Dr.

Bauer said the new location will allow the wholly owned subsidiary of UICI, to consolidate its offices at one location and give the company room for further expansion.”It was a really nice fit for our client,” he said, noting that the office space, which includes security and high-tech features, was vacated several months ago when American Express consolidated its operations.

Two other tenants, the Bureau of Land Reclamation and Dallas-based EDS, occupy the remaining space in the 138,000 sf structure. Built four years ago by Opus Southwest, the building is owned by Opus Real Estate Arizona I LLC.

Bauer represented the tenant in the transaction. Jeff Roberts of Opus Southwest in Phoenix handled talks for the building owner.