CBRE announced that Southwest Human Development subleased 17,797 square feet of office space from Base Commerce in Phoenix.
CBRE’s Kevin Calihan and Amy Trott arranged the sublease on behalf of Base Commerce.
Southwest Human Development, the largest nonprofit dedicated to early childhood development in Phoenix, will occupy the entire third floor of the three-story building, located at 5055 E. Washington Street. The nonprofit will also remain in its current space at 2850 N. 24th Street in Phoenix.
The space was built out in 2019 and features modern finishes and views of Camelback Mountain and Papago Buttes. It was previously leased to Base Commerce, a Phoenix-based leading provider of advanced payment processing solutions. The company was acquired by Montreal-based Nuvei in December 2020, an electronic payment processing company, which occupies 26,000 square feet at SkySong.
“The tenant was eager to exit its lease following its acquisition, and CBRE was able to sublease the space in four months, a quick turnaround in any environment, especially coming out of the pandemic,” said CBRE’s Calihan. “This transaction is indicative of the trend that tenants are flocking to quality, move-in ready space and value flexibility. Southwest Human Development is able to immediately move into a beautiful space outfitted with furniture and excellent views.”