X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SCOTTSDALE, AZ-An international software manufacturer will relocate its headquarters into Scottsdale’s the Village at Hayden by Sept. 1, signing for 10,138 sf in a five-year lease with a $1-million payout to the Praedium Group LLC of New York City.

“Really it came down to free rent,” Adam Tolson, an associate with Phoenix-based Lee & Associates Arizona, tells GlobeSt.com about the expansion talks for Trapeze Software Group Inc. “The owner has been very aggressive with free rent and improvement.”

Located at 8360 E. Via de Ventura Dr., the Village at Hayden was built in the mid-1980s and consists of 11 buildings of 150,000 sf of mixed retail and office space. Trapeze will take a portion of a floor in a 35,000-sf, garden-style building near the rear of the project, according to Tolson. Turnkey improvements will drive a move in late summer from 14400 N. 87th St. in North Scottsdale.

“They will have great freeway access and they like the mixed-use aspect and that they are able to walk to lunch,” adds Tolson. The now 95%-leased Village at Hayden’s brokerage team has aggressively pursued new office and retail tenants, with about 65,000 sf executed in the last 12 months. Rents average $20 per sf.

With offices in the US, Canada and Europe, Trapeze Software Group manufactures and markets software used in transportation systems, including computer aided dispatch systems and traffic signals. Tolson and Kyler Kienholz, also with Lee & Associates, represented Praedium in the deal while Ron Kind with locally based Garcia Realty represented the tenant.

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.