Phoenix Office Space Filling Up

Angela Gonzales of the Phoenix Business Journal reports that downtown Phoenix is experiencing an increase in tenants within its Arizona office space for lease. Prior to the economy’s stabilization, new tenants were hard to come by for many office buildings because moving spaces was just another cost for companies looking to cut back on spending. However, as a sign of the improving economic times, companies are now able to look into expanding into bigger and better spaces, and Phoenix is one of the best places to make that move.

Phoenix has long been considered a hotspot for entrepreneurial activity because of its pro-business atmosphere and tax rates, as well as its beautiful and beautiful Arizona office space for lease. Particularly since it is so close to an international airport, businesses with global clients are able to benefit from the airport’s close proximity, as well as other benefits like business-friendly taxes and programs. However, even a great entrepreneurial city like Phoenix experienced a stagnant period in which office spaces stood vacant for stretches of time, especially downtown Phoenix, where a majority of office complexes stand. Thanks to today’s steadily improving economy, organizations like United Healthcare of Arizona are able to consider Arizona office space for lease in promising areas like Phoenix. CEO Benton Davis plans to move into downtown Phoenix’s CityScape at the beginning of June, leasing 150,000 square feet of space within the complex. This is enough space to consolidate 650 to 700 workers, but it also provides room for the company to grow upwards to 900 employees.

Denton was quoted by Gonzales as saying, "We have space earmarked to add another 200 downtown." The location works for United Healthcare because downtown Phoenix is close to "University of Arizona's medical school, Arizona State University's nursing school, and the research hub anchored by the Translational Genomics Research Institute." Furthermore, the Phoenix School of Law is planning a move into the complex across the street from CityScape. This will bring 800 law students into the area, providing them access to courts and law firms in the surrounding metropolitan area and boding well for Phoenix's future as an entrepreneurial hot spot.

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