Menlo Equities Signs 136 KSF Lease in Phoenix – Beragampengetahuan

Menlo Equities owns One Compass Center since 2018. Image courtesy of JLL

Peckham Inc. has signed a 136,194-square-foot office lease to fully occupy One Compass Center, a Class A office property in Phoenix. JLL assisted the tenant in signing the metro’s largest office lease so far this year. Cushman & Wakefield represented the landlord, Menlo Equities, which owns the property since 2018, according to CommercialEdge.

The nonprofit vocational rehabilitation organization tenant will establish a contact center with 1,000 jobs designed for persons with diverse mental, emotional, physical or learning disabilities.

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One Compass Center is a four-story office building at 3150 S. 48th St. that features 34,651-square-foot floor plates, three passenger elevators, controlled access and 735 covered vehicle parking spots, according to the same source. Additionally, the property includes a two-story glass entrance, an atrium lobby and outdoor spaces.

The approximately 10-acre site is within the Rayburn Acres neighborhood, close to Interstate 10 and to U.S. Route 143. The property is 2 miles from Phoenix Sky Harbor International Airport, 8 miles from downtown Phoenix, 17 miles from Glendale, Ariz. And within 30 miles of Phoenix-Mesa Gateway Airport.

JLL’s team of Vice President Kyle Seeger, Executive Vice President Jami Savage-Gray and Senior Managing Director Ryan Bartos negotiated on behalf of Peckham, Inc. Cushman & Wakefield’s Managing Director Pat Boyle represented the tenant.

Large Phoenix leases in 2023

CommercialEdge data shows that one of the largest office deals inked in the first half of 2023 within the Phoenix metro includes Vanguard Group’s commitment in Scottsdale. The company signed a 133,634-square-foot expansion at Northsight Corporate Center, a 141-534-square-foot office building in the Scottsdale Airport submarket. The Class A property is owned by CIM Group.

Another notable office deal this year was Kimley-Horn’s 78,482-square-foot commitment in Camelback Arboleda, Fenway Capital Advisors’ 178,792-square-foot building in Phoenix.