November 3, 2009, Phoenix – Colliers International today announced that General Growth Properties has negotiated a lease renewal and two new leases for Class A office at One Arizona Center at 400 East Van Buren Street in Phoenix, Ariz. Snell & Wilmer, LLP, has signed a ±187,748-square-foot office lease renewal. New leases were also signed with The U.S. Army Corps of Engineers Medical Recruiting Office for 2,404 square feet and with Central Parking Systems for ±1,755 square feet. Lease terms were not disclosed.
Phil Breidenbach, SIOR, senior vice president with Colliers’ Phoenix office, represented General Growth Properties, Inc., in the three transactions. Colliers also represented Central Parking Systems. Chuck Nixon with CB Richard Ellis in Phoenix represented Snell & Wilmer, LLP. Matt Lyons of Hogan and Associates represented the U.S. Army Corps of Engineers.
Breidenbach, who has represented the Arizona Center for 16 years, said, “In challenging times, relationships and stability are vital to sustaining success. Both General Growth and Snell & Wilmer recognized the value of their relationship and worked to a “win-win” deal, keeping the area’s most sought-after tenant in downtown Phoenix’s premier Class A environment.” He adds, “One Arizona Center places the U.S. Army’s recruiting office in close proximity to the U of A College of Medicine and the ASU School of Nursing. For Central Parking Systems, One Arizona Center is conveniently located to their key clientele in downtown Phoenix.”
Snell & Wilmer moved its offices to One Arizona Center in 1992. According to John Bouma, chairman of Snell & Wilmer, “We evaluated several options. In the end, a quality environment, amenities for our staff, attractive economics, and General Growth’s responsiveness made renewing our lease an easy decision. We enjoy our relationship with General Growth and look forward to continuing it for years to come.”
|