PHOENIX-Transwestern has obtained the leasing assignment for the 364,533-sf 2800 Tower. The local team takes on the class A office building with a large tenant about to vacate the premises next month.

Jim Achen Jr., senior vice president in Transwestern’s Phoenix office, says Southwest Catholic Healthcare Network Corp. will be leaving behind close to 100,000 sf of contiguous space in 2800 Central Ave. when it moves to another submarket. “There’ll be 150,000 sf of space available overall,” Achen explains. “The team I put on this building has put away almost 400,000 sf of space in that market within the past couple of years.” In addition to Achen, the team includes senior vice president William Zurek, associate vice president Vince Femiano and associate Travis Ives.

“We’ll shell out the larger floors that the tenant occupied for a long time and have wide-open space to show,” Achen tell GlobeSt.com. Additionally, Gaedeke Group LLC of Dallas plans to renovate some smaller spaces into ready-to-go office suites. The quoted rate is $22 per sf to $26 per sf, gross.

“The floor plates are 20,000 sf, it’s on the light rail line and there is long-term ownership that’s well capitalized and willing to spend money on TIs,” Achen adds. “Overall, the building’s in very good shape.”

Cushman & Wakefield of Arizona Inc.’s Phoenix office was the 20-year-old building’s previous leasing broker. C&W senior director Jerry Jacobs says there are no hard feelings from the assignment transition. “It was time for the owner to try a different tact and they felt they needed to take a different direction,” he says.

Jacobs adds that one challenge the building poses is a low parking ratio. But Achen points out that Southwest Catholic’s departure will dramatically improve the parking situation.

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

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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 © 2024 ALM Global, LLC. All Rights Reserved.