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PHOENIX-Cingular Wireless has inked a seven-year lease with a $7-million payout for 35,000 sf of the under-construction Desert Ridge Corporate Center II. Cingular, which is expanding with the deal, will relocate its regional headquarters in April 2007.

Desert Ridge Corporate Center II, breaking ground in the spring as spec space, is going up on a six-acre tract at 20860 N. Tatum Blvd., one of four buildings planned for the $90-million, 600,000-sf development. “We were under construction before we began dealing with Cingular, but we definitely consider this a prelease,” Bill Blake, principal of Phoenix-based Lee & Associates Arizona, tells GlobeSt.com. He represents the developer, Ryan Cos. of Minneapolis.

Cingular’s regional headquarters currently is located at 2398 E. Camelback Rd. Tom Adelson and Kevin Calihan with CB Richard Ellis in Phoenix represented the tenant.

Desert Ridge Corporate Center got under way in late 2004. Its first building, which was completed at the beginning of this year, is now 95% leased. “We’ve exceeded our expectations in terms of how quickly the lease-up happened in the first phase,” Blake says. “We have a lot of activity for phase two and are in various stages of negotiation with potential tenants.”

Blake says the plan for a third building also is generating a lot of interest especially among larger users, adding its construction will begin when the second phase is 50% leased. Given current conditions, he says it could be sooner rather than later. “Phase four is market-driven,” he says. “We don’t know when that will go up.”

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