Cushman & Wakefield announced today that New Jersey-based Cenlar FSB leased approximately 41,757 square feet (SF) at Warner Courtyards, located at 301 W. Warner Road in Tempe, Ariz. The landlord is Warner Courtyards, LLC; HRA Warner Courtyards, LP; Park 3020, L.L.C. & Park 3030 L.L.C.
Cushman & Wakefield Director Matt Nebeker represented the landlord in the lease negotiations. The tenant was represented by Jerry Jacobs of Newmark Grubb Knight Frank.
Located in the heart of the Southeast Valley, Warner Courtyards is a modern flex office building totaling 113,586 SF with dining, shopping and entertainment options nearby. Just minutes from freeway access and Sky Harbor Airport, the property is conveniently located in close proximity to hotels, high-end communities, South Mountain Recreational Park and Emerald Design Center featuring IKEA, Dick’s Sporting Goods, Total Wine & More and Life Time Fitness. Built in 2002, Warner Courtyards was 46.6% leased at the time of negotiations.
“Cenlar FSB saw this unique, innovative space to grow business and attract employees as they expand in the Metro Phoenix market,” says Nebeker. “Phoenix combines the right labor market with perfect seasonal weather to be economically fit which attracts east coast companies.”
Cenlar’s expansion to Tempe comes in response to rapid growth in business. The new facility expands the company’s footprint to six locations, one in Pennington, New Jersey, four in Ewing, New Jersey where Cenlar is headquartered, and one in Tempe.