Cushman & Wakefield, a global leader in commercial real estate services, announced today that it has negotiated two headquarters leases in the North Phoenix and South Scottsdale, HollyFrontier will house its Arizona Regional Headquarters at Desert Ridge Corporate Center and Tri-Continental Truck Brokerage, Inc. will have its corporate headquarters at Hayden Professional Park in Scottsdale.
Cushman & Wakefield Vice President Justin Himelstein represented both companies in the office lease negotiations. Gregg Kafka of Lee & Associates represented Regent Properties, owner of Desert Ridge Corporate Center Phase I and Kathleen Morgan of Newmark Grubb Knight Frank represented the 3200 Hayden Plaza, LLC.
“Each of these clients wisely took advantage of current market conditions to strike lease rates in the early stages of pricing escalations,” said Mr. Himelstein. “HollyFrontier negotiated an early renewal in anticipation of higher rates at the time of its current lease expiration. Tri-Continental was able to find a relocation opportunity that provided a great fit for the company at a competitive price. During the post-recession economy, companies are increasingly sensitive to value and these firms understood how to maximize their position in the changing marketplace.”
HollyFrontier Corporation (NYSE:HFC) leased 4,171 square feet at 20860 N. Tatum Blvd. for its Arizona Regional Headquarters. Based in Dallas, the independent petroleum refiner and marketer produces high value light products such as gasoline, diesel fuel, jet fuel and other specialty products. HollyFrontier was founded in 1947 under the name General Appliance Corporation and was listed by Fortune Magazine in 2013 as one of the 150 largest companies in the U.S. The company’s lease commences December 1.
Tri-Continental Truck Brokerage, Inc. (Tri-Con) is a Scottsdale-based, family owned and operated business. Tri-Con services customers nationwide and specializes in all truckload and LTL shipments. The company has leased 3,353 square feet of space at 3200 N. Hayden Rd. in Scottsdale for its new corporate headquarters. Tri-Con’s lease commences April 1.