PHOENIX, AZ – October 22, 2012 – (RealEstateRama) — Two prominent national companies have negotiated leases in the Phoenix area. New Jersey-based home builder K Hovnanian Homes renewed their lease for 19,892 SF
for 96-months at Desert Ridge Corporate Center II at 20860 N. Tatum Blvd. in Phoenix.
Lee & Associates Principals Bill Blake, Craig Coppola, Andrew Cheney and Associate Colton Trauter negotiated on behalf of the owner Faison of Charlotte, NC. Mark Seale with Cassidy Turley represented K Hovnanian Homes.
The 4-story, 136,291 SF Class A offi ce building was built in 2007 and features a high parking ratio at 5:1,000 and is adjacent to Desert Ridge Marketplace and Marriott Desert Ridge Resort. It’s proximity to the Loop 101 and State Route 51 make it easily accessible from across the Valley.
PHOENIX, AZ – O’Reilly Auto Parts signed a new 10-year offi ce lease for 12,327 SF at Madison Square at
5343 N. 16th St. in Phoenix. The new offi ce is just over a mile away from their current location at Missouri and 7th St.
Lee & Associates Principal Bill Blake and Associate Colton Trauter negotiated the lease for O’Reilly. Sean Spellman of Cassidy Turley represented the owner, Orsett Properties, Ltd.
Madison Square is located adjacent to State Route 51 and just off the prestigious Camelback Corridor. The two, Class A buildings feature covered parking and on-site conference facilities.
About K Hovnanian Enterprises, Inc.
Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, New Jersey and is one of the nation’s largest homebuilders.
About O’Reilly Automotive, Inc.
O’Reilly Automotive, Inc. is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States, serving both the do-it-yourself and professional service provider markets. Founded in 1957 by the O’Reilly family, the Company operated 3,859 stores in 39 states as of June 30, 2012.
About Lee & Associates
Lee & Associates specializes in providing exceptional commercial brokerage services to the industrial, offi ce, land and investment sectors of the Phoenix commercial real estate market. The Phoenix offi ce was established in 1991 and is now recognized as one of the most successful brokerage fi
rms in Arizona. Each of the 45 nationwide Lee & Associates offi ces has a strong local ownership combined with a powerful platform from the national Lee & Associates network.
Senior Research Analyst/
Public Media Relations
pr (at) leearizona (dot) com