CBRE and JLL have negotiated a new 112,323-square-foot lease at Phoenix Corporate Tower located at 3003 N. Central Ave. in Phoenix. The tenant, who will be occupying space for administrative purposes, is the recently formed Arizona Department of Child Safety.
Dave Carder, Luke Walker and Eric Schultz with CBRE’s Phoenix office represented the landlord, a joint venture between Colony Capital and Montana Avenue Capital. The tenant was represented by Pat Williams, Andrew Medley, Steve Corney, Vicki Robinson and Chris Corney with JLL’s Phoenix office.
“The Midtown office market is currently experiencing a resurgence in tenant activity due to the central location, light rail access, walkable amenities, affordable rates and increased investment by multi-family and residential condo developers,” said CBRE’s Carder.
Phoenix Corporate Tower is a 445,811-square-foot, 26-story Class A office building in Midtown Phoenix. The landmark building, originally completed in 1965 and renovated once in 2006, has recently undergone another round of renovations. In the past 12 months the building owners invested in exterior paint, landscape improvements and upgraded modern lobby finishes. The building owners are currently in the design phase for further improvements to the common areas in and around the building.