Phoenix – June 7, 2016 – CBRE has been awarded the marketing assignment for the three-story, ±155,000-sq.-ft. office portion of Block 23 at CityScape, the mixed-used project being developed by RED Development in downtown Phoenix. The property, located at the southeast corner of Washington and First Streets, is referred to as Block 23 because of its location in the original city plan.
Jerry Roberts and Pat Boyle with CBRE’s Phoenix office have been tapped by RED Development to oversee the marketing and leasing of the project’s office space.
“We are excited for the opportunity to work with the RED Development team again,” said Roberts. “The RED team has always had a strong belief in the potential of downtown Phoenix, which can be seen in the success of CityScape. We look forward to carrying over that same momentum with the Block 23 project.”
Block 23 at CityScape is yet another vote of confidence for the resurgence of downtown Phoenix, as a number of new companies have chosen to make the city center ho me in the last 24 months, including Uber, Galvanize, and Gainsight, among others. Roberts says the Block 23 at CityScape project will be critical to providing the type of space that other like-minded companies will seek out when they look to expand into the Phoenix market.
“The type of office space that Block 23 at CityScape is going to offer will be unlike anything else Downtown Phoenix has to offer. RED Development is designing product that will feature a 55,000-rentable-square-foot floor plate and 16’ ceiling heights with floor-to-ceiling glass throughout. This contemporary, creative product will be attractive to office users and will further promote Downtown Phoenix as an appealing alternative to other urban cores such as Old Town Scottsdale or Downtown Tempe.”
The highly anticipated development project will also be home to the recently announced downtown Fry’s Food Store and will have a residential component as well. Block 23 at CityScape is slated to break ground Q4 2016 with delivery expected Q2 2018.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
