Spirit Realty Capital Selects Cassidy Turley to Market Riverpoint Buildings

Riverpoint Building
Riverpoint Building

Cassidy Turley announced today that Spirit Realty Capital (NYSE: SRC) has selected the firm to market Riverpoint Buildings I and IV at, 3125 E. Wood St. and 4150 S. Riverpoint Parkway in Phoenix.

Spirit awarded the leasing assignment for the two buildings to the Cassidy Turley office team of Tyler Wilson, CCIM, Mark Stratz and Scott Baumgarten.

According to Spirit Realty Capital’s Vice President of Asset Management, Sean Hufford, “We are excited to bring the Riverpoint buildings to market. We are confident that with Cassidy Turley’s efforts, there will be great interest in leasing these two, premiere back office/call center buildings.”

Riverpoint Buildings I and IV are located within the Riverpoint Business Park in the heart of the metro Phoenix/Tempe market. Riverpoint is located one block South of Interstate 10, with direct access via a full-diamond interchange at 32nd Street. Built in 2002 by Kitchell Development, the two buildings were leased by the University of Phoenix and have been fully-occupied for the past 12 years. Building I, at 3125 E. Wood St., is a ±53,573-square-foot, one level back office building on 4.9-acres. Building IV, at 4150 S. Riverpoint Parkway, is a ±137,363-square-foot, two level back office building on 7.8-acres. The site offers a 6 per 1,000 parking ratio with both covered and uncovered parking, excellent freeway access and a convenient location in the heart of the Phoenix Metro Area.

“Buildings I and IV at Riverpoint provide a unique opportunity in Phoenix for a tenant shopping for a lease-ready back office/call center property,” stated Cassidy Turley Vice President Tyler Wilson. “Most of the larger high-quality office blocks have leased the last few years, shrinking supply and increasing demand for build-to-suit development.  However, that means a tenant has to wait 12 to 24 months before moving in. With both Buildings I and IV at Riverpoint, a Class-A tenant has the ability to immediately occupy the property and not wait through typical construction hurdles.”

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