Phoenix, Ariz. – Cushman & Wakefield has announced that WellCare Health Plans, Inc. signed a 10-year, 81,306-square-foot lease at Two Gateway Center. The national health insurance tenant executed a long-term lease worth $23 million will occupy three floors at 432 N. 44th Street in Phoenix.
On behalf of WellCare Health Plans, Inc., the transaction was completed by Larry Downey and Brett Thompson of Cushman & Wakefield’s Phoenix office and Dave Johnson and Liz Osborne of Cushman & Wakefield’s Denver office. Jerry Roberts and Pat Boyle of Cushman & Wakefield’s Phoenix office represented the landlord, Lowe Enterprises Inc.
“This transaction is a testament to the Cushman & Wakefield platform. It was a team effort and we received great support from our local partners, which allowed this transaction to move quickly. The ability to service our client in Tampa Bay and to also expand was important,” said Johnson.
Two Gateway Center offers impressive amenities, proximity to the airport and the ability to expand the sister building. The property also features abundant surface and covered parking, a new fitness center with an energized outdoor amenity space, an on-site deli, a tenant conference room and a tenant lounge.
“The building’s central location with the availability of contiguous space for expansion and ample parking was of the utmost importance to the client,” said Downey.
This transaction represented a major expansion for the company in the Phoenix market, since WellCare Health Plans, Inc. acquired Care 1st Health Plan Arizona in early 2017.
About WellCare Health Plans, Inc.
Headquartered in Tampa, Fla., WellCare Health Plans, Inc. (NYSE: WCG) focuses exclusively on providing government-sponsored managed care services, primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, to families, children, seniors and individuals with complex medical needs. The company served approximately 4.3 million members nationwide as of March 31, 2018. For more information about WellCare, please visit the company’s website at www.wellcare.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.