192,000 SF Signed in CBD Office

PHOENIX- The U.S. Army's new 2,404-square-foot recruiting office is close to Arizona State University's School of Nursing, while Central Parking Systems, which took 1,755 square feet in the building to be closer to its clients. Breidenbach says both tenants are neat additions to the downtown submarket. "More importantly," he adds, "there are tenants looking at and leasing downtown, which we haven't seen in awhile." Matthew Lyons with The Hogan Group represented the U.S. Army Corps, while Colliers International provided tenant representation services for Central Parking Systems. Breidenbach goes on to say that more leases for the 88%-occupied, 20-year-old One Arizona Center are in the pipeline. Furthermore, a couple of proposals are out. Though the market has been slow, especially in the CBD, there has been some recent, and decent, activity, Breidenbach remarks. "The goal is to convert that activity into deals," he adds. "At least there are signs of life out there."

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