The Quad Inks Two New Leases as Phase One Nears Completion

The Quad, a fourteen-building, 166,606-sq.-ft. office project in the heart of Scottsdale, Ariz., has two new companies to add to its tenant roster. The creative, class A property will soon be home to San Francisco-based Opendoor and Scottsdale-based Forward Tilt.

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Bryan Taute and Charlie Von Arentschildt with CBRE’s Phoenix office negotiated the leases on behalf of the landlord, EverWest Real Estate Partners. Opendoor was represented by Tiffany Winne with Savills Studley and Forward Tilt was represented by Craig Coppola with Lee and Associates.

 

“Opendoor and Forward Tilt are perfect examples of tenants whose vision aligns with the creative nature of The Quad,” said CBRE’s Taute. “As Phase I nears completion and we get ready to kick off construction of Phase II, activity and interest will only increase in the project.”

 

Opendoor will take an entire 12,546-sq.-ft. building in Phase I of The Quad. The tech-based real estate sales platform first launched in Phoenix in 2015 and most recently closed on a $210 million funding round to close out 2016.

 

Forward Tilt is a locally owned commercial furniture dealership that will be taking 8,278 sq-ft of office space to house its headquarters and showroom. Forward Tilt is currently located in Scottsdale, AZ. This premier Allsteel dealership also represents more than 100 different manufacturers and supplies furniture to commercial, educational, healthcare, and hospitality clients in Arizona and around the country.

 

“Our company is about creating spaces and environments that showcase our clients’ cultures and support the employee experience,” said Michelle Heeb, Principal, Forward Tilt. “With that in mind, we were particularly conscious of how our new home would impact our culture and employee experience. Everwest has created an environment that is truly unmatched, and we look forward to calling The Quad home.”

 

The Quad is one of the latest redevelopment plays by the Colorado-based Everwest. The firm has made a name for itself in recent quarters with its success in repositioning older projects into top-tier, highly sought after office addresses.

 

“Opendoor is one of Arizona’s fastest growing tech startups, and Forward Tilt is a prime example of the creativity and drive of local entrepreneurs,” said Amr Ceran, senior director with EverWest. “Their vision validates the gap in the market for this type of creative concept that drew us to redevelop The Quad in the first place.”

 

Phase I of The Quad is comprised of six office buildings and one “amenities” building, which will house a soon-to-be-announced restaurant, a fitness center, a tenant amenity area, and Everwest’s Phoenix office. Phase I is currently 28 percent pre-leased and is set to deliver in February. Upon its completion, Phase I will offer 29,360-sq.-ft. of spec suites.

 

Phase II of The Quad is comprised of seven office buildings, totaling 12,546 sq. ft. each, and will start construction in March. Those buildings are slated to deliver in October of this year.

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