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| Alisa Timm |
PHOENIX, AZ, July 22, 2015
– Phoenix Children’s Hospital has committed to a 27,265-square-foot office
lease at Biltmore Commerce Center, a
Class A Camelback Corridor office building that was purchased just months ago
by office investment and management expert Lincoln Property Company (LPC) and a
fund managed by Oaktree Capital Management, L.P. (Oaktree).
The company will move into
Biltmore Commerce Center next month, bringing the project to 96 percent
occupied.
The is the first lease new
deal signed by the building ownership, which purchased Biltmore Commerce Center
as part of more than $165 million in Phoenix-area investment activity in the
early months of 2015.
“PCH was looking for a
location close to its main hospital that could provide office-specific space
for its growing administrative and executive functions. With its location and
efficiencies, Biltmore Commerce Center fit that bill precisely,” said Lincoln
Property Company’s Vice President Amr
Ceran. “We are very pleased to welcome PCH to our tenant mix, and look
forward to putting this project’s full advantages to work for them.”
 |
| Amr Ceran |
Under the lease, Phoenix
Children’s Hospital will ultimately occupy 27,265 square feet of space – a full
wing on the project’s second floor. They will use the space for executive
offices and for administrative functions including human resources and
accounting.
Scott Maxwell
of CRESA represented Phoenix Children’s Hospital in the lease negotiations. Lee
& Associates’ Bill Blake, Craig
Coppola, Andrew Cheney and Colton Trauter represented the landlord.
“This is a true landmark
Phoenix property, with the full support of LPC’s more than 50 years of asset
and project management expertise behind it,” said LPC Director of Management
Services Alisa Timm, who directs the
project’s property management strategy.
“Amenities like the central atrium and
high-tech touches give it the power to remain at the top of the market.”
For
additional leasing information or to discuss investment opportunities, please
contact David Krumwiede or Amr Ceran at (602) 912-8888.
For a complete copy of the company’s news release,
please contact:
Stacey Hershauer
focusAZ
Marketing & Public
Relations
(480) 600-0195
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