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SCOTTSDALE, AZ-Five new tenants have taken more than 62,000 sf total at the 209-acre Pima Center office campus, with four of the tenants taking space in Pima Center’s Phases II and III, while the fifth, Safeguard Security & Communications Inc., purchased the 20,611-sf Building A in Pima II.

The other Pima II tenant is Hemisphere GPS, which took 15,645 sf. In Pima III, New Horizons Computer Learning Centers took 11,856 sf; Pierce-Eislen Inc. took 9,028 sf and Z&H Engineering Inc. ended up with 5,792 sf. The leases run, on average, between five and seven years.

Jeff Roberts, vice president of real estate and development with Pima Center developer Opus West Corp. says the office campus at State Highway 101 and Via de Ventura has 233,000 sf of completed space to date, which is approximately 80% leased. The quoted lease rate ranges from $17 per sf net to $27 per sf, full service. Roberts tells GlobeSt.com that the four tenants’ leases included TIs, with the exception of Safeguard Security, which is making its own improvements.

Roberts also says that Phase I and II are being marketed for sale, as both are stabilized. He adds that Opus West is concentrating on getting its buildings occupied before putting them on the market. “In this market, we need to do it,” he says. “A year ago, two years ago, we could have sold them empty, but not any more.”

While Phoenix-based Opus West is filling its first three phases, it’s also building Pima IV and V, which are 80,000 sf and 135,000 sf respectively. Roberts says Phases IV and V will be the last speculative building at Pima Center for awhile. “At this point in time, we need to get more leasing done before considering any more,” he says.

Despite the market slowdown, though, Roberts says there has been consistent activity and interest in Pima Center. “There are different deals in proposal phases, one deal we’re negotiating on and a couple of others we’re hoping to have LOIs on,” he says. “Based on the economic news, everyone’s looking for a more aggressive deal. But we’ve been pretty pleased at the activity we’re seeing.”

Lee & Associates brokers Craig Coppola, Bill Blake and Mark Linsalata represented Opus West in all five lease transactions. Linsalata also represented Safeguard Security. Todd Noel of CB Richard Ellis represented Hemisphere GPS, Cliff Denton of NAI Horizons represented New Horizons, Mark Seale of Lee & Associates represented Pierce-Eislen and Dan Colton of Colton Commercial represented Z&H Engineering.

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