{"id":1004606706,"date":"2022-10-17T02:11:24","date_gmt":"2022-10-17T10:11:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004606706"},"modified":"2022-12-08T15:30:58","modified_gmt":"2022-12-08T23:30:58","slug":"red-development-fully-preleases-phoenix-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/red-development-fully-preleases-phoenix-building\/","title":{"rendered":"RED Development Fully Preleases Phoenix Building"},"content":{"rendered":"
\"\"<\/a>

The Grove. Image courtesy of RED Development<\/p><\/div>\n

RED Development<\/strong> has fully leased a Class A office building within The Grove, an upcoming mixed-use development in Phoenix, prior to the building’s completion. JLL<\/strong> represented the company in the leasing process and is also the first tenant to move in<\/a>, bringing nearly 130 employees to the property.<\/p>\n

The building encompasses 180,000 square feet of office space. Aon<\/strong> will join JLL, Clear Sky Capital, Sendoso, Common Bond Development and others on the tenant roster.<\/p>\n

Nelsen Partners’ George Melara serves as architect for the building and Judi Testani from Testani Design Troupe as interior designer. Common-area amenities include a rooftop deck, indoor\/outdoor pavilion, pickleball court and a gourmet kitchen.<\/p>\n

Upon completion, The Grove, which broke ground in June 2021<\/a> and has a price tag of roughly $400 million, will comprise several structures across 750,000 square feet: three office buildings, a hotel, several retail and dining venues, 544 parking spaces, 58 luxury residences and a 70,000-square-foot medical office building.<\/p>\n

Located at 4300 E. Camelback Road, the property is at the corner of Camelback Road and 44th Street. The Grove is also home to the state-of-the-art Phoenix Suns and Phoenix Mercury training facility.<\/p>\n

Less than 3 miles away, a 236,553-square-foot multi-tenant office building dubbed Camelback Center recently traded for $61.8 million<\/a>. Nuveen Real Estate acquired the Class A property and JLL Capital Markets brokered the transaction on behalf of the seller, Bridge Investment Group.<\/p>\n","protected":false},"excerpt":{"rendered":"

The $400 million mixed-use development broke ground in June 2021.<\/p>\n","protected":false},"author":3014,"featured_media":1004606719,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,22251,21752,21742,21747,1601],"tags":[43553,44006,43901,44177],"class_list":["post-1004606706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-in-focus","category-mixed-use","category-latest","category-office","category-phoenix","tag-bridge-investment-group","tag-jll-capital-markets","tag-nuveen-real-estate","tag-red-development"],"acf":[],"yoast_head":"\nRED Development Fully Preleases Phoenix Building - CPE<\/title>\n<meta name=\"description\" content=\"RED Development fully leased a Class A office building in Phoenix, prior to completion. 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