SCOTTSDALE FINANCIAL CENTER III - Transwestern · 2016-07-16 · TANTN 4 SCOTTSDALE FINANCIAL...
Transcript of SCOTTSDALE FINANCIAL CENTER III - Transwestern · 2016-07-16 · TANTN 4 SCOTTSDALE FINANCIAL...
QUALIFICATION LETTER TRANSWESTERN 1
SCOTTSDALE FINANCIAL CENTER III
Transwestern Leasing Services Proposal
Mr. Michael J. YooVice President
J.P. Morgan Asset Management
Ms. Lynda S. CookSenior Vice President
Lowe Enterprises Real Estate
7272 EAST INDIAN SCHOOL ROAD
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III2
QUALIFICATION LETTER TRANSWESTERN 3
Jim Achen, Jr. Senior Vice President
William B. ZurekSenior Vice President
CONTENTS
4 QUALIFICATION LETTER
8 THE APPROACH
Current Market Trends Strategy Leasing Parameters
12 STACKING PLAN
14 FLOOR PLANS WITH TENANT NOTES
20 COMPETITIVE SET
26 AREA AMENITIES
30 BIOGRAPHIES
32 CASE STUDIES
This proposal and the projections herein are based on assumptions reflecting a certain set of conditions. However, some assumptions inevitably will not materialize and
unanticipated events and circumstances may occur; therefore, actual results achieved may vary from our estimates, and the variation may be material. Transwestern extends
no guarantees and makes no warranties, expressed or implied, with respect to this projection. In that regard, neither Transwestern nor any affiliate, employee, officer, director,
shareholder, or agent thereof, shall have any liability whatsoever arising from this projection or the actual results achieved.
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III4
Dear Michael and Lynda,
Thank you for the opportunity to present our capabilities to represent J.P. Morgan Asset
Management and Lowe Enterprises Real Estate Group to provide leasing services for
Scottsdale Financial Center III. We have an exceptional track record of being able to secure
new leases and renewals while deftly managing relocations and expansions in order to
maximize asset values.
Transwestern is providing its most senior and experienced marketing team, Bill Zurek and
Jim Achen, Jr. We will leverage our relationships, execute the marketing strategy, and
deliver the results demanded by ownership. Our team is directly supported by a seasoned
in-house marketing and administrative support team.
Transwestern is a unique company. Our difference begins with our interest in truly listening
to your goals and objectives, and understanding your business. We are relationship
driven, act as stewards for our clients, and customize solutions to meet your specific needs.
Entrepreneurship flows freely through our firm in a manner that encourages our people to
consistently seek new and unique ways of doing things. Ours is a high-energy workplace –
we enjoy our work, our team members and our clients from across the country.
This relationship-driven culture enables the leasing team to foster deep relationships within
the brokerage and tenant communities, translating to higher prospect traffic and better
communication of the deal components needed to finalize leases.
We provide an exceptional brand of office space marketing to ownership. By working closely
with asset management, property management and the entire brokerage community, we
have been able to outperform the market and secure leases with some of the highest credit-
rated tenants in the country. It is the result of going the extra mile for every prospect and
tenant, taking time to determine the key components of the requirement and aggressively
executing on those components.
The following is a brief description of recent office leases that we have secured on behalf of
various ownerships. We have included the contact information from each ownership group
and encourage you to contact your counterparts to see the difference we can make for you.
Mr. Michael J. YooVice President
J.P. Morgan Asset Management
Ms. Lynda S. CookSenior Vice President
Lowe Enterprises Real Estate
June 17, 2014
QUALIFICATION LETTER TRANSWESTERN 5
n Rural Metro – 90,506 sf (Scottsdale) Matt Lederer, Vice President Real Estate, Healthcare Realty. 615.269.8172 [email protected]
We leased the entire 90,506 sf 8465 N. Pima Road building to Rural Metro in the first quarter 2014 on behalf of Healthcare Realty.
n Arcadis USA – 28,468 sf (Phoenix) Mark Jacobs, Managing Director, Oaktree Capital Management. 213.830.6321 [email protected] Tim McChesney, Managing Director, Pearlmark Real Estate Partners. 312.499.1982 [email protected]
We procured a 28,468 sf new Lease with Arcadis, a national engineering firm, that jump started a leasing campaign that leased 240,000 sf in 27 transactions over 18 months with 22 different brokers. We executed the strategy on behalf of an affiliate of Oaktree Capital Management and Pearlmark Real Estate Partners and increased occupancy from 55% to 89%, 50% faster than projected.
n Republic Services of Florida – 21,598 sf (Scottsdale) Austin Cartlidge, Associate, C-III Capital Partners, LLC. 972.868.5206 [email protected]
At 7025 N Scottsdale Road we leased 21,598 sf to Republic Services with no downtime to the Landlord and $5.00 PSF in tenant improvements.
n Cognizant Technology Solutions – 130,581 sf (Phoenix) Kevin Fay, Vice President, Northridge Capital, LLC. 202.625.7890 [email protected]
In conjunction with our property management team, we leased 130,581 SF at Canyon Corporate Plaza II with no downtime and $12.00 PSF in tenant improvements to Cognizant Technology Solutions. Current expansion discussions would increase overall occupancy of the 301,000 sf, two-building multi-tenant asset to 95%.
n DuPont – 95,133 sf (Tempe) James Bolt, Senior Vice President, Lexington Realty Trust. Now with Interventure Advisors. 646.376.4688 [email protected]
We procured a 95,133 SF new lease with DuPont at 8555 South River Road in the ASU Research Park. This lease was signed with no downtime, and no tenant improvement allowance from the landlord.
n State Farm – 107,963 sf (Phoenix) Mark Jacobs, Managing Director, Oaktree Capital Management. 213.830.6321 [email protected] Tim McChesney, Managing Director, Pearlmark Real Estate Partners. 312.499.1982 [email protected]
In a collaborative team effort between Oaktree, Pearlmark and Transwestern, we were able to lease an entire building consisting of 107,963 sf at Two Gateway to State Farm.
Michael and Lynda, we are very interested in working for J.P. Morgan Asset Management
and Lowe Enterprises Real Estate Group. We are at your service to start immediately as your
leasing team.
Respectfully,
Transwestern
William B. ZurekSenior Vice President
Jim Achen, Jr.Senior Vice President
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III6
THE APPROACH TRANSWESTERN 7
TRENDS STRATEGY PARAMETERS
MARKET TRENDS AND IMPACT ON SFC III
The state of the Phoenix office market
mid-year 2014 consists of reasonably strong
demand, decreasing vacancy rates and
moderately increasing lease rates. Although
market fundamentals are not back to pre-
recession levels, positive gains are helping
the Phoenix office market return to normal
market conditions.
Scottsdale Financial Center III is located
in the Scottsdale south submarket which
is part of the Northeast Market. While the
overall Phoenix Metro market has a 19.3%
vacancy rate with a $ 21.00 average rate,
Scottsdale South at the time of our Q1 study
showed a vacancy rate of 13.7% with an
asking rate of $22.50. While absorption was
slightly negative in Scottsdale South in the
first quarter, this will change in the second
quarter as Fresnius just leased 15,317 rsf at
Scottsdale Financial Center II and Weebly
just leased 25,000 rsf at the Scottsdale
Galleria.
Overall, market fundamentals are improving
from a landlord perspective.
SCOTTSDALE FINANCIAL CENTER III
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III8
LEASING STRATEGY
As we understand, ownerships hold
period for this asset is approximately three
years and the goal is to best position the
property for sale in order to maximize
disposition value.
Considering the overall improving market
trends, the remaining moderate vacancy and
the labor intensive rollover schedule, we will
execute a leasing program that aggressively
showcases the remaining vacancy and
emphasizes the combined strength of
ownership while strategically and delicately
renewing the existing tenancy at market
rates (please see floor plans with detailed
tenant notes).
TO ACTUALIZE THIS PROGRAM
WE SUGGEST:
SPEC SUITES AND MARKET READY SPACE
For smaller tenants it is imperative to have
one or two immediate options available, and
for larger tenants (potentially the second
floor area), a substantially demo-ed area
painted white is a requirement.
BROKER OUTREACH
This is a central element of our marketing
plan, with special focus on the leasing of
the remaining building availability. We
will also position the building as the most
broker friendly building in the submarket.
Our outreach to the brokerage community
should contain the following key messages:
n The best ready to go (spec-suites) in
the submarket
n Great location, incredible walking
distance amenities. The amenity
map will be prominently utilized
and displayed.
n Lowe and JP Morgan ownership
– a message of stability and
broker appreciation
These key messages will be delivered
personally. Upon completion of several spec
suites, we will host “Up and Coming” broker
tours at the building and each broker will
receive a $75.00 AMEX gift card at the tour.
Consistent with the personalized promotion,
we will also host monthly dinners in
Downtown Scottsdale with the more senior
tenant rep brokers in the market. We will
host approximately four brokers per dinner
per month beginning in July.
TERRANEA PROMOTION
Utilizing the Lowe Enterprises resort
of Terranea can be an exceptional
differentiator; we recommend a promotion
that for each new lease completed, the
cooperating broker will receive a two night
stay at Terranea (please see Terranea
promo piece).
ELECTRONIC MEDIA
n Building website built and maintained
by Transwestern.
n Bi-monthly e-mail blasts emphasizing
THE APPROACH TRANSWESTERN 9
building improvements, spec suites,
Terranea, and completed leases.
LEASING PARAMETERS
The existing 25,942 sf of available space
in conjunction with approximately 57,435
rsf of rollover in the next two years creates
an opportunity for the Landlord, property
manager and leasing team to structure a
staggered rollover schedule with attractive
credit tenants in order to achieve the highest
value at exit.
Our initial recommended rental rate is $25.00
with $0.50 annual increases and up to 1
month of rent abatement per year of lease
term outside of the lease term. The rent roll
will be structured with three to ten year lease
terms, creating a staggered rollover schedule
in order to achieve the highest value at exit.
We will continuously monitor area lease rates
to optimize opportunities to increase both
lease rates and annual increases.
BROKERAGE COMPENSATION AND
COOPERATING BROKERAGE
Broker compensation is a key marketing
decision that affects a property’s ability
to compete for prospective tenants.
Promotional efforts directed at the
brokerage community begin with the
commission policy.
We suggest the following leasing
commission structure:
n For all leasing deals involving a co-op
broker, a commission equal to seven-
and-one-half percent (7.5%) of the gross
aggregate value of the first 5 years of the
lease is market standard, with five percent
(5%) to the procuring broker and two-
and-one-half percent (2.5%) to the listing
agent. For years 6-10, the commissions
are currently 50% of the schedule for
years 1-5.
n For all direct leasing deals not involving a
co-op broker, Transwestern shall be paid a
commission equal to five percent (5%) of
the gross aggregate value of the lease for
the first five years of the lease term, and
50% of that for years 6-10.
n Given current market conditions, offering
a broker bonus equal to $1.00 per
rentable square foot, on a case-by-case
basis, should be considered. The lease
term must be of three years or longer
to qualify. The bonus program is not
permanent; it can be withdrawn at
any time.
Commissions shall be earned upon full
execution of a lease between the parties,
and shall be payable one-half upon
execution of the lease and one-half upon
occupancy of the space by the tenant.
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III10
EBLAST PROMOTION MOCK-UP
THE APPROACH TRANSWESTERN 11
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III12
STACKING PLAN90.18% OCCUPANCY
The Colony GroupSuite 50015,422 RSF10/31/17
Cornerstone AdvisorsSuite 40011,584 RSF9/30/17
DatalinkSuite 4052,551 RSF8/31/15
Nestle PurinaSuite 3009,890 RSF2/26/16
VacantSuite 3052,437 RSF
EcolabSuite 3108,983 RSF11/30/17
VacantSuite 200764 RSF
Van NormanSuite 2032,231 RSF7/31/14
VacantSuite 2061,669 RSF
Med JamesSuite 2031,264 RSF4/1/14
SynygySuite 2054,109 RSF6/16/16
VacantSuite 2061,669 RSF
ERMSuite 1005,482 RSF6/30/14
HyattSuite 1013,880 RSF12/31/16
Wealth PlanSuite 1033,068 RSF10/31/18
USA AdventuresSuite 1043,027 RSF6/30/18
FLOOR 5
29,662 SFVACANT
0 RSF
FLOOR 4
30,446 SFVACANT
1,326 RSF
FLOOR 3
37,947 SFVACANT
2,437 RSF
FLOOR 2
35,333 RFVACANT
6,209 RSF
FLOOR 4
32,303 SFVACANT
4,968 RSF
2014 2015 2016 2017
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III12
QUALIFICATION LETTER TRANSWESTERN 13
Regus Group - Scottsdale IVSuite 54014,240 RSF11/30/24
DatalinkSuite 4052,551 RSF8/31/15
Career BuilderSuite 4124,949 RSF3/31/19
VacantSuite 4151,326 RSF
Omega Legal SystemsSuite 48010,036 RSF9/30/15
EcolabSuite 3108,983 RSF11/30/17
EminessSuite 3504,890 RSF8/31/15
Jorden BischollSuite 3604,756 RSF7/31/16
Crest InsuranceSuite 3754,554 RSF10/31/19
Rowland CarmichaelSuite 2123,356 RSF6/30/18
Bank of the WestSuite 2103,947 RSF10/31/18
VacantSuite 2131,207 RSF
DPASuite 2144,170 RSF7/31/16
VacantSuite 2151,425 RSF
ComriskSuite 2203,838 RSF9/30/14
VacantSuite 1064,968 RSF
ThePacific CafeSuite 1052,137 RSF10/31/14
Weiss ReinerSuite 1101,166 RSF2/29/16
Adhesive, LLCSuite 10212,235 RSF12/31/14
Bisnett InSuite 1111,372 RSF12/31/14
2017 2018 2019 2024 VACANT
LETTER TRANSWESTERN 13
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III14
FLOOR PLANS
RENEWALS TO COMPLETE
SUITE NUMBER TENANT RSF LEASE EXPIRATION DATE/COMMENT
Suite 110 Weiss-Reiner Law, PLC & Cotto Law
1,166 rsf 2/29/16; lease renewal discussions to commence February, 2015.
Suite 214 DPA Architects 4,170 rsf 6/30/16; lease renewal discussions to commence April, 2015.Suite 220 Comrisk Specialty Products 3,838 rsf 9/30/14; lease renewal discussion to start immediately with Comrisk if they
haven’t already.Suite 375 Crest Insurance 4,554 rsf 10/3/19; Crest Insurance would like to expand by 1,500 to 2,000 rsf. May be
able to use expansion to extend existing space term.Suite 300 Nestle / Purina 9,890 rsf 2/29/16; lease renewal discussions should start immediately.Suite 350 Eminess Technologies, Inc 4,890 rsf 8/31/15; lease renewal discussions to commence July, 2014.Suite 360 Jorden Bischoff & Hiser 4,756 rsf 7/31/16; lease renewal discussions to commence February, 2015.Suite 400 Cornerstone Advisors, Inc 11,584 rsf 9/30/17; Cornerstone has expressed an interest in additional space. Solving
expansion need may include additional term on Suite 400.Suite 405 Datalink 2,551 rsf 8/31/15; lease renewal discussions should start immediately.Suite 480 Omega Legal 10,036 rsf 9/30/15; Renewal discussions to start immediately. Possible space reduc-
tion that Cornerstone could expand into. Could lease to early extension of Cornerstone.
AVAILABLE TO LEASE
SUITE NUMBER RSF COMMENT
Suite 100 6,854 rsf Prominent main lobby exposure.Suite 106 4,968 rsf Courtyard view.Suite 205 8,006 rsf Includes 200 +/- sf of recaptured corridor. Requires relocating Med James with property or termination of month to
month tenancy.Suite 208 1,144 rsf Spec Suite.Suite 213 1,207 rsf Potential Building Conference room location. Is there a space with a balcony for the building conference room or
ground level with cool outside patio area?Suite 305 2,437 rsf Excellent proximity to elevator lobby.Suite 415 1,326 rsf 3 private offices.
FLOOR PLANS TRANSWESTERN 15
FIRST FLOOR
Courtyard view
10/31/14
Lease renewal discussions to commence February, 2015.
2/29/16
12/31/14
Not Option Right. Attempt to relocate
with property to create larger marketable in
main lobby.
Leadership in Energy and Environmental Design to downsize. Prominent main lobby exposure.6,854
6/30/18
10/31/18
12/13/14
12/13/16
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III16
SECOND FLOOR9/30/14
Lease renewal discussion to start immediately with Comrisk if they
haven’t already.
7/31/16
Lease renewal discussions to
commenceApril, 2015.
Potential building conference room location.
Is there a space with a balcony for the building
conference room orground level with cool outside patio area?
Relocate
Relocate
Assemble suites 200, 204, 206, 203, and 305 to create larger contiguous space (10,000+ RFS) with prominent building signage.
4/1/14
6/16/16
7/31/14
10/31/186/30/18
FLOOR PLANS TRANSWESTERN 17
THIRD FLOOR
8/31/15
11/31/17
2/26/16
10/31/19
7/31/16
Crest Insurance wouldlike to expand by1,500 to 2,000 rsf.May be able to use
expansion to extendexisting space term.
Lease renewal discussionsshould start immediately.
Lease renewal discussionsto commence July, 2014.
Excellent proximityto elevator lobby.
Lease renewal discussionsto commence February, 2015.
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III18
FOURTH FLOOR
8/31/15
9/30/15
9/30/17
3/31/19
Lease renewaldiscussions shouldstart immediately.
3 private offices.
Renewal discussions tostart immediately. Possible
space reduction thatCornerstone could expandinto. Could lease to earlyextension of Cornerstone.
Cornerstone has expressedan interest in additional
space. Solving expansionneed may include additional
term on Suite 400.
FLOOR PLANS TRANSWESTERN 19
FIFTH FLOOR
10/31/17
11/30/24
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III20
COMPETITIVE SET
SCOTTSDALE FINANCIAL CENTER I
SCOTTSDALE FINANCIAL CENTER II
LINCOLN TOWNE CENTRE SOUTH
LINCOLN TOWNE CENTRE NORTH
GALLERIA CORPORATE CENTER
SCOTTSDALE FASHION SQUARE BUILDING
CAMELBACK TOWER
PROPERTY ADDRESS 4110 N Scottsdale Rd Scottsdale
4141 N Scottsdale Rd Scottsdale
4150 N Drinkwater Blvd Scottsdale
4250 N Drinkwater Blvd Scottsdale
4343 N Scottsdale Rd Scottsdale
7150 E Camelback RdScottsdale
6900 E Camelback RdScottsdal
PROPERTY NUMBER #1 #2 #3 #4 #5 #6 #7
YEAR BUILT/REHAB 1982 1989 / 2012 1999 1999 1991 / 2001 1987 1974 / 1997
RBA 106,995 150,892 115,000 115,000 401,903 120,000 125,240
NO. FLOORS/BUILDINGS 3 / 1 3 / 1 5 / 1 5 / 1 3 / 1 5 / 1 11 / 1
SF AVAILABLE 20,605 15,713 5,480 7,799 14,847 32,585 24,094
LARGEST CONTIGUOUS SF 5,626 10,229 2,757 4,047 11,422 12,803 10,611
% LEASED 80.7% 89.6% 95.2% 93.2% 96.3% 72.5% 80.8%
LEASING COMPANY C&W C&W C&W C&W CBRE C&W Newmark Grubb Knight
ASKING RENTAL RATE $25.00 $24.50 $25.00 $25.00 $28.50 $24.50 $24.00
LAST SALE DATE/PRICE Aug 2008 / $19M ($181/SF)
Dec 2011 / $21.7M ($144/SF)
Mar 2012 / $17.1M $149/SF)
Mar 2012 / $17.1M ($149/SF)
Sept 2013 / $49.3M ($123/SF)
N/A Aug 2011 / $10M($80/SF)
AMENITIES Underground parking, banking, corner lot, Energy Star labeled
Underground parking, on-site deli/restaurant,
corner lot
Balconies, corner lot, hotel, restaurant, parking garage
Balconies, corner lot, hotel, restaurant, parking
garage
On-site café, corner lot, atrium,
Energy Star labeled, attached covered garage
Located on regional mall property, underground
parking, corner lot, barber salon
Underground parking, conferencing facility, convenience store,
restaurant
PARKING RATIO 4.7/1000 4/1000 4/1000 4/1000 5/1000 3/1000 1/1000
COMPETITIVE SET TRANSWESTERN 21
SCOTTSDALE FINANCIAL CENTER I
SCOTTSDALE FINANCIAL CENTER II
LINCOLN TOWNE CENTRE SOUTH
LINCOLN TOWNE CENTRE NORTH
GALLERIA CORPORATE CENTER
SCOTTSDALE FASHION SQUARE BUILDING
CAMELBACK TOWER
PROPERTY ADDRESS 4110 N Scottsdale Rd Scottsdale
4141 N Scottsdale Rd Scottsdale
4150 N Drinkwater Blvd Scottsdale
4250 N Drinkwater Blvd Scottsdale
4343 N Scottsdale Rd Scottsdale
7150 E Camelback RdScottsdale
6900 E Camelback RdScottsdal
PROPERTY NUMBER #1 #2 #3 #4 #5 #6 #7
YEAR BUILT/REHAB 1982 1989 / 2012 1999 1999 1991 / 2001 1987 1974 / 1997
RBA 106,995 150,892 115,000 115,000 401,903 120,000 125,240
NO. FLOORS/BUILDINGS 3 / 1 3 / 1 5 / 1 5 / 1 3 / 1 5 / 1 11 / 1
SF AVAILABLE 20,605 15,713 5,480 7,799 14,847 32,585 24,094
LARGEST CONTIGUOUS SF 5,626 10,229 2,757 4,047 11,422 12,803 10,611
% LEASED 80.7% 89.6% 95.2% 93.2% 96.3% 72.5% 80.8%
LEASING COMPANY C&W C&W C&W C&W CBRE C&W Newmark Grubb Knight
ASKING RENTAL RATE $25.00 $24.50 $25.00 $25.00 $28.50 $24.50 $24.00
LAST SALE DATE/PRICE Aug 2008 / $19M ($181/SF)
Dec 2011 / $21.7M ($144/SF)
Mar 2012 / $17.1M $149/SF)
Mar 2012 / $17.1M ($149/SF)
Sept 2013 / $49.3M ($123/SF)
N/A Aug 2011 / $10M($80/SF)
AMENITIES Underground parking, banking, corner lot, Energy Star labeled
Underground parking, on-site deli/restaurant,
corner lot
Balconies, corner lot, hotel, restaurant, parking garage
Balconies, corner lot, hotel, restaurant, parking
garage
On-site café, corner lot, atrium,
Energy Star labeled, attached covered garage
Located on regional mall property, underground
parking, corner lot, barber salon
Underground parking, conferencing facility, convenience store,
restaurant
PARKING RATIO 4.7/1000 4/1000 4/1000 4/1000 5/1000 3/1000 1/1000
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III22
COMPETITIVE SET CONTINUED
CAMELBACK SQUARE PORTALES CORPORATE CENTER
THE SCOTTSDALE FORUM SCOTTSDALE SPECTRUM 7025 BUILDING SCOTTSDALE CENTRE GAINEY CENTER II
PROPERTY ADDRESS 6991 E Camelback RdScottsdale
4800 & 4900 N Scottsdale RdScottsdale
6263 N Scottsdale RdScottsdale
6710, 6720, 6730 N Scottsdale Rd, Scottsdale
7025 N Scottsdale RdScottsdale
7373 N Scottsdale RdScottsdale
8501 N Scottsdale RdScottsdale
PROPERTY NUMBER #8 #9 #10 #11 #12 #13 #14
YEAR BUILT/REHAB 1978 / 1988 1999 / 2004 1991 1996 / 1998 2002 1984 2000
RBA 172,690 448,575 223,000 254,922 91,148 163,312 146,770
NO. FLOORS/BUILDINGS 3 / 1 6 / 2 3 / 1 2 & 3 / 3 3 / 1 2 / 1 3 / 1
SF AVAILABLE 64,567 39,193 47,676 56,662 8,365 35,230 55,667
LARGEST CONTIGUOUS SF 14,485 17,413 18,259 21,625 4,487 4,918 43,057
% LEASED 62.6% 91.3% 78.6% 77.8% 90.8% 78.4% 62.1%
LEASING COMPANY Lee & Assoc Forum Capital C&W Lee & Assoc TW CBRE CBRE
ASKING RENTAL RATE $22.00 $28.00 $24.00 $27.00 $25.00 $22.75 $25.00
LAST SALE DATE/PRICE May 2011 / $19M($110/SF)
Mar 2008 / 172.8M($383/SF)
July 2007 / $40M($179/SF)
N/A Nov 2013 / $21.5M(235/SF)
July 2011 / $20.8M($127/SF)
Jan 2007 / $50.6M($345/SF)
AMENITIES Corner not, conferencing facility, restaurant,
covered parking garage
LEED certified, balconies, conferencing facility, fitness
center, hotel, Energy Star labeled, restaurant, underground parking
Courtyard, Energy Star labeled, restaurant,
underground parking
Balconies, conferencing facility, fitness center,
restaurant
Underground parking, newer construction,
balconies
Balconies, courtyard, water feature
LEED certified, balconies, corner lot, Energy Star labeled,
covered parking garage
PARKING RATIO 4/1000 4/1000 4/1000 4/1000 4/1000 4/1000 3.6/1000
COMPETITIVE SET TRANSWESTERN 23
CAMELBACK SQUARE PORTALES CORPORATE CENTER
THE SCOTTSDALE FORUM SCOTTSDALE SPECTRUM 7025 BUILDING SCOTTSDALE CENTRE GAINEY CENTER II
PROPERTY ADDRESS 6991 E Camelback RdScottsdale
4800 & 4900 N Scottsdale RdScottsdale
6263 N Scottsdale RdScottsdale
6710, 6720, 6730 N Scottsdale Rd, Scottsdale
7025 N Scottsdale RdScottsdale
7373 N Scottsdale RdScottsdale
8501 N Scottsdale RdScottsdale
PROPERTY NUMBER #8 #9 #10 #11 #12 #13 #14
YEAR BUILT/REHAB 1978 / 1988 1999 / 2004 1991 1996 / 1998 2002 1984 2000
RBA 172,690 448,575 223,000 254,922 91,148 163,312 146,770
NO. FLOORS/BUILDINGS 3 / 1 6 / 2 3 / 1 2 & 3 / 3 3 / 1 2 / 1 3 / 1
SF AVAILABLE 64,567 39,193 47,676 56,662 8,365 35,230 55,667
LARGEST CONTIGUOUS SF 14,485 17,413 18,259 21,625 4,487 4,918 43,057
% LEASED 62.6% 91.3% 78.6% 77.8% 90.8% 78.4% 62.1%
LEASING COMPANY Lee & Assoc Forum Capital C&W Lee & Assoc TW CBRE CBRE
ASKING RENTAL RATE $22.00 $28.00 $24.00 $27.00 $25.00 $22.75 $25.00
LAST SALE DATE/PRICE May 2011 / $19M($110/SF)
Mar 2008 / 172.8M($383/SF)
July 2007 / $40M($179/SF)
N/A Nov 2013 / $21.5M(235/SF)
July 2011 / $20.8M($127/SF)
Jan 2007 / $50.6M($345/SF)
AMENITIES Corner not, conferencing facility, restaurant,
covered parking garage
LEED certified, balconies, conferencing facility, fitness
center, hotel, Energy Star labeled, restaurant, underground parking
Courtyard, Energy Star labeled, restaurant,
underground parking
Balconies, conferencing facility, fitness center,
restaurant
Underground parking, newer construction,
balconies
Balconies, courtyard, water feature
LEED certified, balconies, corner lot, Energy Star labeled,
covered parking garage
PARKING RATIO 4/1000 4/1000 4/1000 4/1000 4/1000 4/1000 3.6/1000
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III24
COMPETITIVE SET CONTINUED
GAINEY CENTER I GAINEY RANCH CORPORATE CENTER
SKYSONG1 SKYSONG2 SKYSONG3
PROPERTY ADDRESS 8601 N Scottsdale RdScottsdale
8777-8877 N Gainey Ranch Dr, Scottsdale
1475 N Scottsdale RdScottsdale
1375 N Scottsdale RdScottsdale
1365 N Scottsdale RdScottsdale
PROPERTY NUMBER #15 #16 #17 #18 #19
YEAR BUILT/REHAB 1999 1989 / 1991 / 1997 2007 2008 Under Construction
RBA 140,756 584,278 144,832 144,813 145,000
NO. FLOORS/BUILDINGS 3 / 1 2 & 3 / 3 4 / 1 4 / 1 4 / 1
SF AVAILABLE 11,809 12,257 13,290 30,536 54,015
LARGEST CONTIGUOUS SF 9,179 6,256 13,290 11,948 54,015
% LEASED 91.6% 97.9% 90.8% 78.9% 62.7%
LEASING COMPANY Cassidy Turley Lee & Assoc Cassidy Turley SUBLEASE Lee & Assoc Lee & Assoc
ASKING RENTAL RATE $24.50 $24.50 $23.00 $25.00 $27.00
LAST SALE DATE/PRICE Apr 2007 / $52M ($369/SF)
N/A Aug 2013 / $35.8M ($247/SF)
Aug 2013 / $33.9M ($234/SF)
N/A
AMENITIES LEED certified, balconies, corner lot, Energy Star labeled,
covered parking garage
Underground parking, corner lot
LEED certified, Energy Star labeled, newer
construction, corner lot, attached covered garage
LEED certified, Energy Star labeled, newer
construction, corner lot, attached covered garage
LEED certified, Energy Star labeled, new construction,
corner lot, attached covered garage
PARKING RATIO 4/1000 4/1000 4/1000 4/1000 4/1000
COMPETITIVE SET TRANSWESTERN 25
GAINEY CENTER I GAINEY RANCH CORPORATE CENTER
SKYSONG1 SKYSONG2 SKYSONG3
PROPERTY ADDRESS 8601 N Scottsdale RdScottsdale
8777-8877 N Gainey Ranch Dr, Scottsdale
1475 N Scottsdale RdScottsdale
1375 N Scottsdale RdScottsdale
1365 N Scottsdale RdScottsdale
PROPERTY NUMBER #15 #16 #17 #18 #19
YEAR BUILT/REHAB 1999 1989 / 1991 / 1997 2007 2008 Under Construction
RBA 140,756 584,278 144,832 144,813 145,000
NO. FLOORS/BUILDINGS 3 / 1 2 & 3 / 3 4 / 1 4 / 1 4 / 1
SF AVAILABLE 11,809 12,257 13,290 30,536 54,015
LARGEST CONTIGUOUS SF 9,179 6,256 13,290 11,948 54,015
% LEASED 91.6% 97.9% 90.8% 78.9% 62.7%
LEASING COMPANY Cassidy Turley Lee & Assoc Cassidy Turley SUBLEASE Lee & Assoc Lee & Assoc
ASKING RENTAL RATE $24.50 $24.50 $23.00 $25.00 $27.00
LAST SALE DATE/PRICE Apr 2007 / $52M ($369/SF)
N/A Aug 2013 / $35.8M ($247/SF)
Aug 2013 / $33.9M ($234/SF)
N/A
AMENITIES LEED certified, balconies, corner lot, Energy Star labeled,
covered parking garage
Underground parking, corner lot
LEED certified, Energy Star labeled, newer
construction, corner lot, attached covered garage
LEED certified, Energy Star labeled, newer
construction, corner lot, attached covered garage
LEED certified, Energy Star labeled, new construction,
corner lot, attached covered garage
PARKING RATIO 4/1000 4/1000 4/1000 4/1000 4/1000
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III26
SCOTTSDALE AMENITIES1. E7 3 Palms2. E2 Bespoke Inn, Café & Bicycles3. E7 Best Western Papago Inn and Resort4. B3 BEST WESTERN PLUS Sundial5. A7 The Boulders, A Waldorf Astora Resort6. E7 The Canyon Suites at The Phoenician7. A7 Carefree Resort & Conference Center8. A3 Chaparral Suites Scottsdale9. F4 Comfort Suites Old Town Scottsdale10. C9 CopperWynd Resort and Club11. D8 Country Inn & Suites By Carlson12. D9 Courtyard by Marriott Scottsdale at Mayo Clinic13. F3 Courtyard by Marriott Scottsdale Old Town14. E8 Courtyard by Marriott Scottsdale Salt River15. A3 Days Hotel Scottsdale16. D7 Days Inn & Suites Scottsdale17. E7 DoubleTree Resort by Hilton Paradise Valley-Scottsdale18. E1 El Dorado Scottsdale19. C7 Extended Stay America Scottsdale20. D7 Extended Stay Deluxe Phoenix-Scottsdale21. C7 Fairmont Scottsdale Princess22. A3 FireSky Resort & Spa – A Kimpton Hotel23. B8 Four Seasons Resort Scottsdale at Troon North24. D7 Gainey Suites Hotel25. D8 Hampton Inn & Suites Scottsdale Riverwalk26. D7 Hampton Inn Scottsdale at Shea27. E6 The Hermosa Inn, a boutique hideaway28. C7 Hilton Garden Inn Scottsdale North Perimeter Center29. D3 Hilton Garden Inn Scottsdale Old Town30. D7 Hilton Scottsdale Resort & Villas31. F4 Holiday Inn Express Hotel & Suites Old Town32. D7 Holiday Inn Express Scottsdale North33. E2 Homestead Studio Suites Hotel34. D7 Homewood Suites by Hilton Scottsdale35. E7 Hospitality Suite Resort – Scottsdale36. C4 Hotel Indigo Scottsdale
MAYO BLVD.
LEGEND TRAIL
PKW
Y.
P
IEST
EWA
PEAK
FW
Y.
DAISY MOUNTAIN DR.
SKY HARBORINT‘L AIRPORT
NORTHMOUNTAIN
PARK
PIESTEWAPEAK PARK
FALCON FIELDMUNICIPAL
AIRPORT
PHOENIX-MESA GATEWAY AIRPORT
SCOTTSDALEAIRPORT
CAREFREE AIRPORT
DEER VALLEYAIRPORT
CAMELBACK MOUNTAIN
US AIRWAYSCENTER
ARIZONASCIENCE CENTER
CHASEFIELD
PUEBLOGRANDEMUSEUM
TALIESINWEST
COMMEMORATIVE AIR FORCE ARIZONA WING
AVIATION MUSEUM
PINNACLEPEAK PARK
HEARDMUSEUMNORTH
WESTWORLD
COSANTI
MUSICAL INSTRUMENT
MUSEUM
McCORMICK STILLMANRAILROAD PARK
PHOENIX ARTMUSEUM
HEARDMUSEUM
SUN DEVILSTADIUM
SALT RIVER FIELDS AT TALKING STICK
TEMPE TOWN LAKE
PHOENIXZOO
DESERTBOTANICAL
GARDEN
PAPAGOPARK
TONTO NATIONAL
FOREST
CAVE CREEK REGIONAL PARK
SOUTH MOUNTAIN
PARK
McDOWELL MOUNTAIN REGIONAL PARK
REACH 11 RECREATION AREA
REACH 11 RECREATION AREA
SCOTTSDALESPORTS COMPLEX
Tempe Mesa
Paradise Valley
Fountain Hills
Carefree
Cave Creek
McDOWELL SONORAN
PRESERVE
SALT RIVER PIMA-MARICOPAINDIAN COMMUNITY
FORT McDOWELL YAVAPAI NATIONScottsdale
Phoenix
SOUTHERN AVE.
BASELINE RD.
MAIN ST.APACHE RD.
UNIVERSITY DR.
CAMELBACK RD.
THOMAS RD.
VAN BUREN ST.
WASHINGTON ST.
GRAND AVE.
McDOWELL RD. McDOWELL RD.
McDONALD RD.
INDIAN BEND RD.
THUNDERBIRD RD.
DOVE VALLEY RD.RANCHO
PALOMA
DR.
STAGECOACH PASS
HAPPY VALLEY RD.
JOMAX RD.JOMAX RD.JOMAX RD.
LONE MOUNTAIN RD. LONE MOUNTAIN RD.
DIXILETA DR.DIXILETA DR.
RIO VERDE DR.
ORE
ST R
D.
DYNAMITE BLVD.
PINNACLE PEAK RD.
VIA LINDA
BELL RD.
CACTUS RD.
SHEA BLVD.
MOUNTAIN VIEW RD.VIA LINDADOUBLETREE RANCH RD.
CHAPARRAL RD.
INDIAN SCHOOL RD.INDIAN SCHOOL RD.
BROWN RD.
McKELLIPS RD.
THOMAS RD.
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96TH
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44TH
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40TH
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32N
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T.32
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ST.
48TH
ST.
56TH
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64TH
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T.
24TH
ST.
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CEN
TRAL
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.
7TH
AVE
.
19TH
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.
35TH
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.
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GLENDALE AVE.
BETHANY HOME RD.
PEORIA AVE.
DUNLAP AVE.
NORTHERN AVE.
CACTUS RD.
THUNDERBIRD RD.
GREENWAY RD. GREENWAY RD.
BELL RD.
UNION HILLS DR.
DEER VALLEY RD.
HAPPY VALLEY RD.
CAVE
CRE
EK R
D.40
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T.
27TH
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.
32N
D S
T.
24TH
ST.
16TH
ST.
7TH
ST.
7TH
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.
19TH
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.
33RD
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.
27TH
AVE
.
GUADALUPE RD.
CLOUD RD.
CAREFREE HWY.
JOY RANCH RD.
DESERT HILLS DR.
ELLIOT RD.
BROADWAY RD.
CAVE
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ALL
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ST.
101
101
RED MOUNTAIN FWY.
Scottsdale Area
Downtown Scottsdale(see map at left)
Light Rail
© 2014 SCOTTSDALE CONVENTION & VISITORS BUREAU
Trolley Stop RANCHO VISTA DR.
SOLERIBRIDGE
CIVIC CENTERLIBRARY
SCOTTSDALECITY HALL
BRO
WN
AVE
.
PARK
SCOTTSDALE
5 6 7 8 94321
F
E
D
C
B
A
SCOTTSDALE AREADOWNTOWN SCOTTSDALE
8
4
13
29
31
33
36
37
39
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15
9
2
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74
50
57
69
63
53
73
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19
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21
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11 4544
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25
HOTEL & RESORTS
SCOTTSDALE AMENITIES TRANSWESTERN 27
MAYO BLVD.
LEGEND TRAIL
PKW
Y.
P
IEST
EWA
PEAK
FW
Y.
DAISY MOUNTAIN DR.
SKY HARBORINT‘L AIRPORT
NORTHMOUNTAIN
PARK
PIESTEWAPEAK PARK
FALCON FIELDMUNICIPAL
AIRPORT
PHOENIX-MESA GATEWAY AIRPORT
SCOTTSDALEAIRPORT
CAREFREE AIRPORT
DEER VALLEYAIRPORT
CAMELBACK MOUNTAIN
US AIRWAYSCENTER
ARIZONASCIENCE CENTER
CHASEFIELD
PUEBLOGRANDEMUSEUM
TALIESINWEST
COMMEMORATIVE AIR FORCE ARIZONA WING
AVIATION MUSEUM
PINNACLEPEAK PARK
HEARDMUSEUMNORTH
WESTWORLD
COSANTI
MUSICAL INSTRUMENT
MUSEUM
McCORMICK STILLMANRAILROAD PARK
PHOENIX ARTMUSEUM
HEARDMUSEUM
SUN DEVILSTADIUM
SALT RIVER FIELDS AT TALKING STICK
TEMPE TOWN LAKE
PHOENIXZOO
DESERTBOTANICAL
GARDEN
PAPAGOPARK
TONTO NATIONAL
FOREST
CAVE CREEK REGIONAL PARK
SOUTH MOUNTAIN
PARK
McDOWELL MOUNTAIN REGIONAL PARK
REACH 11 RECREATION AREA
REACH 11 RECREATION AREA
SCOTTSDALESPORTS COMPLEX
Tempe Mesa
Paradise Valley
Fountain Hills
Carefree
Cave Creek
McDOWELL SONORAN
PRESERVE
SALT RIVER PIMA-MARICOPAINDIAN COMMUNITY
FORT McDOWELL YAVAPAI NATIONScottsdale
Phoenix
SOUTHERN AVE.
BASELINE RD.
MAIN ST.APACHE RD.
UNIVERSITY DR.
CAMELBACK RD.
THOMAS RD.
VAN BUREN ST.
WASHINGTON ST.GRAND AVE.
McDOWELL RD. McDOWELL RD.
McDONALD RD.
INDIAN BEND RD.
THUNDERBIRD RD.
DOVE VALLEY RD.RANCHO
PALOMA
DR.
STAGECOACH PASS
HAPPY VALLEY RD.
JOMAX RD.JOMAX RD.JOMAX RD.
LONE MOUNTAIN RD. LONE MOUNTAIN RD.
DIXILETA DR.DIXILETA DR.
RIO VERDE DR.
ORE
ST R
D.
DYNAMITE BLVD.
PINNACLE PEAK RD.
VIA LINDA
BELL RD.
CACTUS RD.
SHEA BLVD.
MOUNTAIN VIEW RD.VIA LINDADOUBLETREE RANCH RD.
CHAPARRAL RD.
INDIAN SCHOOL RD.INDIAN SCHOOL RD.
BROWN RD.
McKELLIPS RD.
THOMAS RD.
VAL
VIST
A D
R.
GRE
ENFI
ELD
RD
.
LIN
DSA
Y RD
.
GIL
BERT
RD
.
STAP
LEY
DR.
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R.
CEN
TER
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TRY
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DR.
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.
HAY
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D.
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McC
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L RD
.
136T
H S
T.
128T
H S
T.12
8TH
ST.
136T
H S
T.
118T
H S
T.
64TH
ST.
56TH
ST.
PIM
A RD
.
124T
H S
T.104T
H S
T.
90TH ST.
64TH
ST.
56TH
ST.
TATU
M B
LVD
.
94TH
ST.
96TH
ST.
44TH
ST.
40TH
ST.
32N
D S
T.32
ND
ST.
48TH
ST.
56TH
ST.
64TH
ST.
40TH
ST.
32N
D S
T.
24TH
ST.
16TH
ST.
7TH
ST.
CEN
TRAL
AVE
.
7TH
AVE
.
19TH
AVE
.
35TH
AVE
.
MIL
L AV
E.
PRIE
ST D
R.
FRANK LLOYD WRIGHT BLVD.
THOMPSON PEAK PKWY.
ALM
A SC
HOOL
PKW
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VIA DE VENTURA
CAVE CREEK RD.
PALI
SADES B
LVD. FO
UNTAIN
HIL
LS B
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SAG
UAR
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GALVI
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KW
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SCO
TTSD
ALE
RD.
SCO
TTSD
ALE
RD.
BLAC
K CA
NYO
N F
WY.
GLENDALE AVE.
BETHANY HOME RD.
PEORIA AVE.
DUNLAP AVE.
NORTHERN AVE.
CACTUS RD.
THUNDERBIRD RD.
GREENWAY RD. GREENWAY RD.
BELL RD.
UNION HILLS DR.
DEER VALLEY RD.
HAPPY VALLEY RD.
CAVE
CRE
EK R
D.40
TH S
T.
27TH
AVE
.
32N
D S
T.
24TH
ST.
16TH
ST.
7TH
ST.
7TH
AVE
.
19TH
AVE
.
33RD
AVE
.
27TH
AVE
.
GUADALUPE RD.
CLOUD RD.
CAREFREE HWY.
JOY RANCH RD.
DESERT HILLS DR.
ELLIOT RD.
BROADWAY RD.
CAVE
CRE
EK R
D.
McD
OW
ELL
MO
UNTA
INRD
.
LINCOLN DR.
GOLDEN EAGLE BLVD.
1-17
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taff,
Sed
ona
and
Gra
nd C
anyo
n
SUPERSTITION FWY.
PIM
A FW
Y.
PIMA FWY.
DESE
RT M OUNTAI
N PW
Y.
NORT
H V
ALL
EY P
KWY.
48TH
ST.
101
101
RED MOUNTAIN FWY.
Scottsdale Area
Downtown Scottsdale(see map at left)
Light Rail
© 2014 SCOTTSDALE CONVENTION & VISITORS BUREAU
Trolley Stop RANCHO VISTA DR.
SOLERIBRIDGE
CIVIC CENTERLIBRARY
SCOTTSDALECITY HALL
BRO
WN
AVE
.
PARK
SCOTTSDALE
5 6 7 8 94321
F
E
D
C
B
A
SCOTTSDALE AREADOWNTOWN SCOTTSDALE
8
4
13
29
31
33
36
37
39
22
71
40
48
54
60
15
9
2
18
38
70
7
6
5
3 1
23
24
14
26
1727
28
30
3234
35
46
4955
51
61
52
58
64
42
47
16
56
68
62
5972
41
43
67
12
74
50
57
69
63
53
73
66
19
20
21
65
11 4544
10
25
HOTEL & RESORTS 37. D1 Hotel Valley Ho38. D2 Howard Johnson Scottsdale39. C4 Hyatt House Scottsdale/Old Town40. D3 Hyatt Place Scottsdale/Old Town41. D7 Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch42. D9 Inn at Eagle Mountain43. D7 JW Marriott Camelback Inn Resort & Spa44. D8 La Quinta Inn and Suites Scottsdale45. D8 Marriott TownePlace Suites Scottsdale46. D7 Millennium Scottsdale Resort & Villas47. D7 Montelucia Resort & Spa48. B1 Motel 6 Scottsdale49. E7 The Phoenician50. D9 Radisson Fort McDowell Resort51. C7 Residence Inn by Marriott Scottsdale North52. D7 Residence Inn by Marriott Scottsdale/ Paradise Valley53. E7 Royal Palms Resort and Spa54. D3 the Saguaro55. D7 Sanctuary on Camelback Mountain Resort and Spa56. E7 Scottsdale Camelback Resort57. D7 Scottsdale Cottonwoods Resort & Suites58. C7 Scottsdale Links Resort59. C7 Scottsdale Marriott at McDowell Mountains60. D3 Scottsdale Marriott Suites Old Town61. E7 Scottsdale Park Suites62. D7 The Scottsdale Plaza Resort63. D7 Scottsdale Resort & Athletic Club64. D7 Scottsdale Resort & Conference Center65. C7 Scottsdale Thunderbird Suites66. C7 Scottsdale Villa Mirage67. C7 Sheraton Desert Oasis68. D7 SmokeTree Resort & Bungalows69. D8 Talking Stick Resort70. C2 Travelodge Scottsdale 5th Avenue71. B3 W Scottsdale Hotel & Residences72. C7 The Westin Kierland Resort & Spa73. C7 Wingate by Wyndham Scottsdale74. C7 Zona Hotel & Suites Scottsdale
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III28
Plan on meeting success.
ACCOMMODATIONS243 suites, including 2 Presidential Boardroom Suites • All suites have 2 distinctive living areas • 32” flat-screen LCD HD televisions • Plug-In Marriott control panel • High-speed wireless internet service • Wet bar, refrigerator and coffeemaker • Individual climate control • Alarm clock • Cable movie channels • In-room pay movies • 2 telephones with voice mail and data ports •
iHome docking stations
RESTAURANTS & LOUNGES3rd Avenue Grill: serving breakfast, lunch anddinner with a Southwestern flair.Starbuck’s Coffee Bar: serving breakfast pastries and gourmet coffees from around the world.
RECREATION & LEISUREOutdoor swimming pool • Fitness center featuring state-of- the-art treadmills and elliptical machines all equipped with individual TV
monitors • Golf and tennis nearby
ATTRACTIONSFashion Square Mall • Historic Old TownScottsdale • Art Galleries • Scottsdale Arts
District • Scottsdale Waterfront • Scottsdale Stadium (Spring Training for the San Francisco Giants) • Salt River Fields (Spring Training for the Arizona Diamondbacks and the Colorado Rockies)
GUEST SERVICESExpress checkout • Room service • Wirelesshigh-speed internet access available in public areas and meeting rooms • Valet dry cleaning • Guest laundry • Hertz car rental • Safety deposit
boxes (at the front desk)
MEETING FACILITIES12 meeting rooms • 9,755 sq ft of total meeting space including a 1,000 sq ft outdoor courtyard • Catering and audiovisual equipment available
LOCATIONLocated in the heart of the Historic Old Town, 12 miles from Sky Harbor International Airport. Take East airport exit to 44th Street. Proceed North to Indian School Road, turn right (East). Follow to Scottsdale Road, turn left. Take first right onto East Third Avenue
SCOTTSDALE MARRIOTT
SCOTTSDALE AMENITIES TRANSWESTERN 29
Dimensions Capacity
Meeting Room Sq. Ft. Theater Schoolroom Conference U-Shape Banquet Reception
Salon 12 3’x30’x8’ 690 50 30 242 03 55 0
Salon 2 23’x30’x8’ 690 50 30 242 03 55 0
Salon 1 & 2 23’x60’x8’ 1,380 110 65 50 50 80-90 125
Scottsdale Room 23’x24’x9’ 5284 02 12 02 03 04 0
Boardroom 25’x26’x10’ 650 –– 14 –– –
Ironwood 22’x32’x10’ 704 50 242 42 03 64 0
Agave 14’6”x23’8”x10’ 333 –– 12 –– –
Cottonwood 39’6”x21’6”x10’ 850 60 40 35 32 50 50
Desert Willow 39’6”x21’6”x10’ 850 60 40 35 32 50 50
Ocotillo 39’6”x 21’6” x10’ 850 60 40 35 32 50 50
Palo Verde 39’6”x 21’6” x10’ 850 60 40 35 32 50 50
Presidential Suite 803 – 880 –– 12 –– 20
Presidential Suite 816 – 880 –– 12 –– 20
Outdoor Space
Courtyard– 1,000 –– –– 200 250
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III30
Jim Achen Jr.
Senior Vice President Office Leasing Services 602.954.9850 [email protected]
TRANSWESTERN ROLE
Jim specializes primarily in the leasing and sales of office properties on behalf of private,
institutional, entrepreneurial and developer clients.
CAREER HIGHLIGHTS
Jim’s clients include SSR Realty Advisors/MetLife, Westfund, Allstate, Princeton, Northridge
Capital, Mitsubishi Capital, Lowe Enterprises, Roth Development, BlackRock Realty Advisors,
MC Realty, Younan Properties, Thrivent, The Presson Companies, SKB, and Transwestern
Investment Company. Jim has successfully completed hundreds of transactions with
companies such as Qwest, the USDA, GSA, The Hartford, American Express, Liberty Mutual,
Verizon, Ottawa University, Collins College, Charles Schwab, U.S. Food Service and Arizona
Department of Revenue.
Jim and Bill Zurek have completed some of the largest lease transactions in Phoenix;
American Express for 169,071 square feet, Cognizant Technologies for 135,000 square feet,
and the Internal Revenue Service for 107,849 sf. During the last several years, Jim and Bill
have averaged approximately 500,000 square feet of lease transactions annually and have
been involved in approximately $500,000,000 of property sales.
Jim has been active in Phoenix commercial real estate brokerage since 1992, and during that
time he has been a consistent top producer and been awarded Presidents Club (previous
company) and Champions Club production awards based on exceptional achievement.
PROFESSIONAL AFFILIATIONS
Jim is an active member of the following organizations:
n Certified Commercial Investment Member (CCIM)n Valley Partnershipn National Association of Industrial and Office Properties (NAIOP)n Urban Land Institute (ULI)
EDUCATION
Jim graduated from the University of Arizona with a Bachelor of Science degree in Business.
He is a licensed real estate professional in the state of Arizona.
BIOGRAPHIES TRANSWESTERN 31
TRANSWESTERN ROLE
Bill specializes in the leasing and sales of office properties.
CAREER HIGHLIGHTS
Bill Zurek joined Transwestern after working with JMB Properties Company for 15 years and
PM Realty Group for 3 years. Bill executed the marketing and leasing plans for downtown
and suburban office properties on a local and regional basis. Since joining Transwestern in
1999 and forming a partnership with Jim Achen, Jr., Bill has executed over 4 million square
feet of lease transactions and approximately $375 million of property sales.
Bill’s clients include Oaktree Capital Management, Pearlmark Real Estate Partners,
Northridge Capital, Gaedeke Group, C-II Capital Partners, Ryan Companies, Wall
Enterprises, and Lexington Corporate Properties Trust. Bill has successfully completed
transactions with tenants such as Arcadis US, Cognizant Technologies, State Farm Insurance,
Qwest, GSA/ TSA, The Hartford, American Express, Liberty Mutual, Bar S Foods Company,
Sogeti, Republic Services, U.S. Food Service and Health Choice Arizona.
PROFESSIONAL AFFILIATIONS
Bill is a member of the National Association of Industrial and Office Properties (NAIOP) and
is a Board Member of Transwestern.
EDUCATION
Bill graduated from Arizona State University with a Bachelor of Science degree in business
administration. He is a licensed real estate professional in the state of Arizona.
William B. Zurek
Senior Vice President Office Leasing Services 602.954.9856 [email protected]
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III32
1. Gateway Center - Norstan / BlackBox TechnologiesThe Challenge Relocate four existing Tenants including a 6,946 sf Tenant to another building in the office property. Norstan’s lease did not contain a Substitution of Premises clause. A new Lease for 107,000 sf with a commencement date deadline was at risk.
Strategy Work closely with asset management and property management to structure an amendment that would be attractive to teh Tenant’s local and corporate leadership and the Landlord.
Results Transwestern was able to relocate Norstan to a 5,576 rsf space in another building within the office complex enabling the Landlord to secure a 107,000 sf Office Lease with State Farm Insurance. Subsequent negotiations with Norstan are underway to expand by 1,426 sf and extend by three years.
2. 7025 North Scottsdale Road - USA BarcelonaThe Challenge Securing new leases is a class A office building under special servicer management.
Strategy Drive leasing velocity under restrictive economic leasing parameters.
Results Transwestern was able to lease a 2,700 sf suite to USA Barcelona for one year at $25.00 psf in an “as-is” condition. Once the direct ownership was in place, Transwestern was able to negotiate a four year extension and expansion of the Premises
by 2,250 sf with USA Barcelona. The Lease provided with $9.00 psf in tenant improvements and a starting rental rate of $26.00 prsf.
PHOENIX CASE STUDIES
3. Pima Office Pavilion - Rural Metro The Challenge Built in 2008, the building languished at 0% occupancy for years. The building had been previously under marketed and had the perception in the marketplace as a medical building without an amenity base.
Strategy Awarded the leasing assignment. We immediately began re-emphasizing the building as a true office destination with highly efficient floor plates, a strong parking ratio and excellent freeway access. The immediate area amenities were illustrated much more thoroughly and the immediate proximity to executive housing and easy access to substantial labor bases and Phoenix Sky Harbor were aggressively marketed. In addition to standard marketing, we
began an intense schedule of meeting the best tenant representation brokers at the building in small groups to thoroughly showcase the building.
Results Transwestern completed an 11 year lease for the entire 90,000 square foot building within nine months of taking the assignment. Due to the strategic and aggressive marketing of the space, the negotiations were competitive between two high quality tenants which allowed ownership to leverage negotiations to increase the lease rate, reduce tenant improvement cost and accelerate the occupancy schedule.
CASE STUDIES TRANSWESTERN 33
5. ASML Building - Dupont / Air Products The Challenge ASML Building is a 95,000 square foot Class “A” office and clean room environment. Transwestern leased 95,000 square feet to DuPont / Air Products
Strategy ASML leased the entire building and when the marketing listing was secured, ASML still had three years remaining on the in place lease obligation; This was coterminous with the expiration of the in place CMBS debt. Without new tenancy, securing new debt would not be possible and the building would most likely be given to the lender. Due to the highly specialized nature of the improvements our marketing was directed at high tech companies as well as the research arm of Arizona State University. During this time, a fluid conversation was initiated with ASML in order to negotiate either a buyout or sublease should a replacement tenant be identified.
Results A joint venture between DuPont and Air Products (DANM) was identified as having the ability to utilize the building due to growing demand from Intel for their services. However, DANM was not willing to initially take the entire premises, and the existing CMBS debt forbid the Landlord from accepting a termination buyout. A co-location sublease agreement was crafted between ASML and DANM while simultaneously negotiating a new ten year lease between DANM and the Landlord which would commence immediately upon expiration of the in place ASML lease. The Landlord will have absolutely no occupancy down time, no tenant improvement cost and will be able to refinance under favorable terms to cash flow the asset for an additional ten years.
6. Canyon Corporate Plaza/Major Fortune 500 Lease with Cognizant Technology Solutions The Challenge American Express exercised an early termination right for 60% of this 301,845 square foot Class A asset.
Strategy Broadly market the upcoming Class A space availability locally and through national relationships.
Results We actively engaged a long term national brokerage relationship representing a growing credit tenant through face-to-face meetings, multiple walkthroughs of the premises, and several
proposals and counter proposals. Our goal was to minimize both tenant improvement and eliminate downtime costs. Intense negotiations yielded a new twelve year lease for 130,000 square feet with Cognizant Technology Services, tripling Cognizant’s Phoenix office presence. The lease terms included $12.00 psf in tenant improvement costs and zero downtime. Our relationships with CD Commercial and Julian J. Studley Inc., continues to generate new business.
4. Gateway Center - Snap On Tools - Regional OfficeThe Challenge Market Spec suites within a 432,000 sf three building office complex.
Strategy Work with asset management, property management and leasing to create dynamic Spec Suites with the ability to expand.
Results Transwestern was able to secure a new lease with Snap-On Tools for 2,498 sf. The space was a combination of a 1,498 rsf Spec Suite and a 1,000 sf of adjacent availability.
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III34
QUALIFICATION LETTER TRANSWESTERN 35
This proposal and the projections herein are based on assumptions reflecting a certain set of conditions. However, some assumptions inevitably will not materialize and
unanticipated events and circumstances may occur; therefore, actual results achieved may vary from our estimates, and the variation may be material. Transwestern extends
no guarantees and makes no warranties, expressed or implied, with respect to this projection. In that regard, neither Transwestern nor any affiliate, employee, officer, director,
shareholder, or agent thereof, shall have any liability whatsoever arising from this projection or the actual results achieved.
TRANSWESTERN SCOTTSDALE FINANCIAL CENTER III36
T 602.956.5000 F 602.956.5333www.transwestern.com
2415 East Camelback Road, Suite 900Phoenix, Arizona 85016
Jim Achen, Jr.Senior Vice President 602.954.9850 [email protected]
William B. ZurekSenior Vice President 602.954.9856 [email protected]