by Luci Scott – Mar. 5, 2011
Arizona Republic
Microsoft
has opened an office at Tempe Town Lake.
The company has taken the top floor of Hayden Ferry Lakeside II, the 12-story building at 60 E. Rio Salado Parkway.
About 150 sales, marketing and service employees have moved from Phoenix Plaza, at 2929 N. Central Ave., into 23,535 square feet in Tempe, 1,500 square feet larger than their Phoenix space.
Four other tenants recently signed leases for the building as well. Details aren’t being disclosed, but Bryan Taute, senior vice president of CB Richard Ellis, indicated that the soft commercial market helped promote the deals.
The tenants wanted to upgrade their facilities, and they took advantage of landlord willingness to negotiate.
“Even though, for example, Microsoft probably could have renewed for less than they’re paying at the new facility, it’s less than they were probably previously paying,” Taute said.
“It was an opportunity to take advantage of the market and upgrade their facilities. That’s probably true for all tenants.”
The four other recent leases:
• Citrix Online, subsidiary of Citrix Systems of Goleta, Calif., will occupy 19,919 square feet and will expand its space when it moves in May from Fountainhead Corporate Center. Citrix Online provides the Web conferencing tool Go To Meeting, among other products.
• The New York-based Guardian Life Insurance Co. moved its sales office in November from Airport Technology Center, at 44th and Van Buren streets in Phoenix. It took 8,092 square feet.
• Financial advisers Ronald Blue & Co. of Roswell, Ga., located from Mesa Financial Plaza in December. It occupies 7,842 square feet.
• Solium Capital LLC moved its U.S. headquarters from Southfield, Mich., in August into 6,740 square feet in Tempe. Solium Capital provides software for stock-plan administration.
The building’s occupancy stands at more than 90 percent.
The building’s owner, New York-based Sumitomo Corp. of America, was represented in the deals by Taute and Brad Anderson, also of CBRE.
Hayden Ferry Lakeside II is part of a mixed-use project of 1.6 million square feet of office, retail and residential condos. Built in 2007, the building was awarded the Energy Star label in 2010 by the U.S. Environmental Protection Agency for operating efficiency.