Opus West’s Pima Center Occupancy Rising

Posted By Mike Padgett

March 9, 2009

SCOTTSDALE, Ariz. – Several more tenants are moving into Phoenix-based Opus West Corp.’s Pima Center, a 1-million-square-foot office campus at the Loop 101 Freeway and Via de Ventura.

New leases by Mutual of Omaha, Taylor Morrison Homes, State Farm Insurance and Healthcare Realty Trust bring the completed buildings in the project to more than 90 percent leased or sold.

Mutual of Omaha has leased 31,000 square feet in the three-story, 136,000-square-foot Pima III A. Mutual of Omaha is now operating administrative offices and a full-service regional bank branch at the new location.

At the adjacent three-story, 136,000-square-foot Pima III C building, Opus has completed a lease agreement with Taylor Morrison Homes for 17,000 square feet a design center and administrative offices.

“Pima Center combines a great Scottsdale location, freeway visibility and a very competitive price point, with a variety of building types and opportunities to lease or own,” Jeff Roberts, vice president of Opus West’s real estate development, said in a press release. 

Other tenants at Pima Center include Premiere Oncology, Rural Metro, SXC Health Solutions, Hemisphere GPS, Safeguard Security, PB Bell and Scottsdale Insurance.

Of the nearly 1-million-square-foot master plan at Pima Center, Opus West has completed 12 buildings totaling 766,000 square feet of office space. The most recently completed segment of the project is the two-story Pima Medical Pavilion, which was completed under a build-to-suit arrangement with Healthcare Realty, a Nashville-based real estate investment trust (REIT). Delivered in late 2008, these two buildings front Pima Road and total 180,000 square feet. They were designed to accommodate the specific needs of medical users.

“The objective of the Pima Medical Pavilion is to provide outpatient medical services in this existing, well-established medical market,” said Hilla Nassiri, Healthcare Realty Trust leasing director.

A new two-story, 80,000-square-foot building is under construction by Opus West. Completion is planned this month. It offers the only site at Pima Center with contiguous space in excess of 20,000 square feet. The company has one building remaining on the drawing board at Pima Center: the four-story, 180,000-square-foot Pima III B. Groundbreaking is dependent on leasing activity.

Opus Pima Center’s general contractor is Opus West Construction Corp. Pima Center’s exclusive leasing brokers are Bill Blake, Craig Coppola and Mark Linsalata of Lee & Associates in Phoenix at 602-956-7777.

Coppola, Blake and Linsalata represented Opus West in all of the four new transactions. Tom Adelson and Kevin Calihan of CB Richard Ellis represented Mutual of Omaha and Pat Williams of Jones Lang LaSalle represented Taylor Morrison Homes. John Pierson and Jon Lange of Jones Lang LaSalle represented State Farm Insurance, and Jerry McCormick of CB Richard Ellis represented Healthcare Realty Trust. 

Opus West has been actively developing at the Via de Ventura and Loop 101 since 2005. Its two projects at the intersection include Opus Pima Center and the 250,000-square-foot Calendar Stick, which is home to headquarter tenants Cold Stone Creamery, Telesphere, Rural/Metro Corp. and SHPS.

 

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Mar 9th, 2009

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