Newmark Grubb Knight Frank (NGKF) announced Phoenix Investors # 23, LLC (managed by Greenwood & McKenzie), owner of One Papago Hills, has leased 91,000 square feet to Towers Watson (Willis Towers Watson plc; NASDAQ: WLTW).
The global healthcare consulting firm is expanding into the Phoenix market with a new facility at 1144 West Washington Street. Located in the prestigious Papago Park Center in Tempe, the property comprises a two-story office building with 40,250-square-foot floor plates and a free-standing 10,500-square-foot data center. NGKF’s Mike Garlick represented the property owner in the transaction.
“We are excited at the addition of Towers Watson to One Papago Hills and grateful for the tireless work of the team from NGKF,” added Jim McKenzie, Principal, at Greenwood & McKenzie. “This space offered good existing infrastructure, a central location to draw labor from all over the valley, proximity to Arizona State University and great access to freeways and light rail. Towers Watson will be a great fit to the Papago Hills Campus. I am confident they will be great stewards of the property.”
Originally developed by SunState Builders for DHL, the property has been empty since last October when the global logistics’ company vacated for larger space. Towers Watson expects the new facility will accommodate over 600 seats, netting new jobs to the metro area. The company has 39,000 employees in over 120 countries. Occupancy of the space is expected July 1, 2016.