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Sprouts lease builds on momentum of High Street Ownership which has signed 18 businesses to move onto the property, expand their footprint or renew their lease during past year.
Phoenix (PRWEB) July 09, 2014
Portland-based real estate private equity firm ScanlanKemperBard Companies and Minnesota-based Wayzata Investment Partners LLC announced today that Sprouts Farmers Market (https://www.sprouts.com/) has just signed a long-term lease and will relocate its corporate offices to High Street (http://www.HighStreetAZ.com) in Spring 2015.
Sprouts is a wonderful addition to our tenant mix and follows a year of positive leasing activity and renewed interest from businesses and consumers alike, explains Leslie Himley, vice president of marketing and communications for the property. Sprouts corporate headquarters sets a precedent for additional high-caliber tenants to join the momentum and enjoy High Streets amenities and mixed-use lifestyle.
Sprouts is relocating approximately 300 team members from its current location near Tatum and Cactus to approximately 77,400 square-feet of office and retail space on the southeast side of High Street. Sprouts will occupy floors two through four as well as ground-level retail space.
As the Vice Mayor, I am thrilled that were seeing this activity at High Street, said Jim Waring, vice mayor, City of Phoenix. Its fantastic to see a once troubled project now flourishing with new ownership. Sprouts is a welcome addition to the already vibrant High Street. District 2, and city as a whole, will be the beneficiaries and we are proud to be supportive of this effort.
JLL Managing Director John Bonnell and Vice Presidents Brett Abramson and Greg McMillan worked diligently to secure the deal. JLL is the exclusive leasing representative for The Offices on High Street.
Sprouts was represented by Scott Maxwell of Cresa.
Since closing on the property in April 2013, new leases totaling over 165,000 square feet of both office and retail space have been signed.
About High Street
Identified by its geographic location and known for its architectural style and 24/7 environment, High Street is a 628,000 square-foot mixed-used development located in the heart of the prosperous Phoenix Northeast Valley. Positioned at the intersection of Phoenix Loop 101 and State Route 51, High Street offers accessibility from anywhere in the Valley and a dynamic mix of dining, nightlife, retail, services, Class-A office space and luxury apartment homes. Its popular restaurant and bar collection includes: La Bocca Wine Bar & Urban Kitchen, Ocean Prime, Blue Martini, Modern Margarita, Kona Grill, Mellow Mushroom and coming soon, Rick Bronsons House of Comedy and Toby Keiths I Love This Bar and Grill. For more information or tenant and event listings, visit http://www.highstreetaz.com.
About ScanlanKemperBard Companies
Formed in 1993, SKB is a fully integrated real estate merchant-banking firm based in Portland, Oregon with additional offices in Phoenix, Seattle and Denver. Investment types include office, retail, industrial, mixed-use and hospitality. SKB also funds bridge loans and periodically provides equity to select developers of ground-up development projects located in the Western United States.
SKB has originated total portfolio activity of $2.98 billion comprised of 22.8 million square feet of office, industrial and retail space and 2,054 residential units. With longstanding relationships in each of its markets, SKB has the ability to source, structure and execute value creation across a wide spectrum of real estate opportunities. You may learn more by visiting the companys website at http://www.skbcos.com.
About Wayzata Investment Partners LLC
Based in Wayzata, Minnesota, Wayzata Investment Partners LLC is an SEC registered investment adviser to private investment funds. You may learn more about Wayzata Investment Partners by visiting the companys website at http://wayzatainvestmentpartners.com/.
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