CBRE Negotiates 26,174 SF Office Lease in Downtown Phoenix Warehouse District

CBRE Group, Inc., has negotiated a 26,174-square-foot lease in the downtown Phoenix Warehouse District. Arizona-based Scientific Technologies Corporation, a health technology innovation and services company, will occupy the warehouse-turned-office-space.

 

Corey Hawley and Jimmy Cornish with CBRE’s Phoenix office negotiated the lease on behalf of the landlord, 1st Buchanan, LLC. Jim Sadler and Darius Green with Keyser represented Scientific Technologies Corporation.

 

Located at 411 S. 1st Street in Phoenix, the space was formerly occupied by Phoenix Packaging Products as a warehouse and distribution site in the mid-1900s. The property is in the process of being converted to creative office space as part of an adaptive reuse project. The two-story building retains original design elements including a wood truss roof, vintage brick walls and ample natural light.

 

“The downtown Phoenix Warehouse District continues to prove itself as one of the metro’s most attractive locations for tech companies to relocate to,” said Hawley. “We’re happy to see Scientific Technologies Corporation’s vision aligns with the creative, tech-driven nature of the Warehouse District.”

 

Geoff Jacobs and Randy Grudzinski, principals with Scottsdale-based Aspirant Partners – the manager of 1st Buchanan, LLC, stated that their firm “sees tremendous opportunity in the revitalization of downtown Phoenix, with 411 S. 1st Street being one of several development and re-development projects that we are undertaking in this sub-market.”  Aspirant is also the developer of The Stewart — a 19-story, 312 unit apartment building at the NE corner of McKinley Street and Central Avenue in downtown Phoenix.

 

Scientific Technologies Corporation joins other tech and creative companies including Galvanize, WebPT, R&R Partners and Gould Evans in locating to Phoenix’s amenity-rich Warehouse District. The property is surrounded by roughly 100 restaurants as well as a variety of retailers, art galleries and event and concert venues. Talking Stick Resort Arena, Chase Field and CityScape are all located within a mile of the property.

 

Established in 1998, Scientific Technologies Corporation advances population health outcomes through information technology, consulting and technical solutions to government agencies and the private sector in the southwest region of the U.S.

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