Demand for Density Meets Demolition Strategy at New JLL Office Listing in Tempe, AZ

Tempe 10/60 Corporate Center                                                                                                             (formerly known as Corporate Fountains)                                                                                          is located at 4415 – 4625 South Wendler Drive in Tempe,                                                                  alongside Interstate 10 and just south of the I-10/SR-60                                                                            (Superstition Freeway).                                                                                                                                 

Dave Seeger

PHOENIX, AZ, April 30, 2014 – Greenlaw Partners and The Broe Group have selected the Phoenix office of JLL to market a 90,000-square-foot office project in Tempe, Ariz., where the demand for high density space spurred demolition of a portion of the complex in exchange for a higher parking ratio.

 Greenlaw Partners and The Broe Group purchased the project for $3.5 million.

Tempe 10/60 Corporate Center (formerly known as Corporate Fountains) is located at 4415 – 4625 South Wendler Dr. in Tempe, alongside Interstate 10 and just south of the I-10/SR-60 (Superstition Freeway).

The project originally totalled 110,000 square feet in two 45,000-square-foot, two-story buildings and one 20,000-square-foot, single-story building. 

Upon review of the property, Greenlaw and The Broe Group recognized the opportunity to add value to its investment through a number of key physical changes.

San Filippo, partner at Greenlaw Partners. “JLL is a great choice to market this asset in that they are a strategic partner in effectively positioning creative opportunities such as Tempe 10/60 Corporate Center. Phoenix has a lot of value-add opportunity and it will be a market where we look to remain active.”

“Going to this length to create a high density environment underscores Phoenix’s demand for this type of space,” said JLL Managing Director Dave Seeger, who is marketing Tempe 10/60 Corporate Center with JLL colleague and Managing Director Karsten Peterson. “A parking ratio of 4:1,000 or 5:1,000 is good, and 6:1,000 is great, but a ratio of 7:1,000 is outstanding.”

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For a complete copy of the company’s news release, please contact:

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com