The JLL Phoenix Corporate Solutions Group is in expansion mode, earning 1.2 million square feet of new leasing assignments and prompting the addition of industry veteran Stacey Prentice as Retail Property Manager in charge of retail properties.
“Commercial real estate buyers are definitely back in Phoenix, looking for assets that they can acquire and stabilize,” said Jackie Hines, Vice President, Group Manager for JLL in Phoenix. “This has generated tremendous opportunity for our property management team, from clients associated with JLL brokers to properties owned or leased by other entities.”
On the office and industrial front, JLL has earned almost 944,000 square feet of new assignments, including ASU Macro Technology Works, a 274,000-square-foot specialized testing facility that operates 24/7 and requires a dedicated team of engineers. JLL was named the exclusive property manager on behalf of the Arizona Board of Regents and Arizona State University.
Other new assignments within these sectors include:
- Corporate Parkway North: A 226,364-square-foot Class A office building at 16404 N. Black Canyon Hwy. in Phoenix. The project is home to PayChex, CSAA Insurance and Revana/Teletech Services.
- San Tan Corporate Center I and II:Totaling 267,714 square feet in two Class A buildings in Chandler; 100 percent leased to corporate tenants including Toyota.
- 5090 N. 40thSt.: 175,835 square feet of Class A office space in Phoenix’s prestigious Camelback Corridor, with anchor tenants including Bar S, Kudelski Security and Beyond Trust.
JLL has also been named the exclusive property manager for four Class A retail projects. These are:
- Kierland Village:115,567 square feet in Scottsdale, at 64th Street and Greenway Parkway, home to 22 tenants including Safeway.
- Silverstone Marketplace: 78,094 square feet in Scottsdale, at Scottsdale Road and Pinnacle Peak, home to 19 tenants including Sprouts.
- Tatum Ranch Crossings: 94,179 square feet in Cave Creek, at Tatum Boulevard and Cave Creek, occupied by 12 tenants including Safeway.
- Phoenix Metro: 49,303 square feet in Phoenix, at N. Metro Center Parkway West, occupied by two tenants including anchor Fitness International.
The recent retail assignments prompted the addition of industry veteran Stacey Prentice, hired by JLL as a Retail Property Manager for open air retail properties. In her role, Prentice directly manages multiple Class A retail centers located in Phoenix and Scottsdale. She joins an 18-person JLL Phoenix property management team overseeing office, industrial, retail and mixed-use assignments across the metro market. Combined, JLL’s Phoenix property management and facilities management team totals 364 Valley employees directing a local portfolio of 24 million square feet.
“Demand for management services is strong across the board – particularly for companies like JLL who offer industry experts like Stacey and vertical services like brokerage and construction management that help meet the unique needs that go along with a building investment,” said Hines.
Prentice contributes decades of property management experience, including medical office space and industrial/flex properties, with the last seven years dedicated to managing real estate owned (REO) portfolios. She holds a current Arizona Real Estate License.