(PHOENIX) – Hines, the international real estate firm, announced today that Kierland One is 90% leased.
Only about 17,000 square feet of the 175,441-square-foot office building is still available for lease. Hines has recently finished a building refresh of Kierland One, renovating the lobby and updating the exterior paint.
“The strong leasing interest at Kierland One is a testament to the highly desirable location and the investment Hines continues to make in the building,” said Chris Anderson, senior managing director and Arizona leader for Hines.
Kierland One is a Class A office building located in the Kierland submarket. Situated on 11 acres, the four-story building, 16430 N. Scottsdale Road, is across from the Promenade Shops, within the Kierland master-planned development. Hines acquired Kierland One in 2013 with joint venture equity partner Pacific Coast Capital Partners (PCCP).The surrounding area has attracted many banks and financial organizations and is located near the Scottsdale Quarter, Kierland Commons and the Westin Kierland Resort & Spa.
The following lease transactions recently took place at Kierland One to bring the building to 90%:
Carlisle Companies Expands Global Headquarters
Carlisle Companies, which has its global headquarters at Kierland One, has expanded to accommodate continued growth. The Fortune 1,000 company is located on the entire fourth floor and will move into additional space on the third floor.
Chris Koch, Carlisle’s president and chief executive officer said, “We are extremely pleased to expand Carlisle’s headquarters in Scottsdale, Arizona. After moving to Scottsdale in 2016, we launched Vision 2025, our strategic plan in which we will drive to $8 billion of sales, 20% operating margins, and 15% ROIC. Expansion of our Scottsdale headquarters demonstrates continued execution of our long-term goals by Carlisle’s dedicated 14,000 employees.”
SmithGroup of Phoenix is designing a tenant improvement project expected to be finished in early 2020. The contractor has yet to be selected. The CBRE team of Michael Strittmatter, Luke Walker and Brad Anderson represented Hines. Tom Adelson with Newmark Knight Frank represented Carlisle Companies.
OSIsoft Triples Office Space
OSIsoft, a software, operations and intelligence business consultant and current Kierland One tenant, is tripling its office space to meet upcoming growth projections and will move to the third floor from the first floor. The CBRE team of Michael Strittmatter, Luke Walker and Brad Anderson represented Hines. Chris Krewson with Newmark Knight Frank represented OSIsoft.
Enchantment Group Inks New Lease
Enchantment Group, a hospitality company, recently signed a lease at Kierland One to begin operating space on the second floor this month. The CBRE team of Michael Strittmatter, Luke Walker and Brad Anderson represented Hines. Chris Walton with Cresa represented Enchantment Group.
Other tenants at Kierland One include: Bradley Wealth Management, Primary Residential Mortgage and Kansas State Bank. A new 1,700-square-foot Coffee Bean is located on a parcel near the building and is scheduled to open this summer.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 214 cities in 24 countries. Hines has approximately $120.6 billion of assets under management, including $66.5 billion for which Hines provides fiduciary investment management services, and $54.1 billion for which Hines provides third-party property-level services. The firm has 128 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,348 properties, totaling over 444 million square feet. The firm’s current property and asset management portfolio includes 512 properties, representing over 223 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.