OFFICE DISCUSSION
Stream's platform is agile, enterprising, and structured to deliver the effciencies of scale with the speed, flexibility, and resilience to keep our clients competitive and in a position of strength.
About Stream
Opex
Reconciliation Reviews
1,200+
Real Estate Professionals
Our Company
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Our Company
Our History
Our Ideal Client
Our Proven Success
Our Team
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Our History
Our Company
Our History
Our Ideal Client
Our Proven Success
Our Team
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Our Ideal Client
Our Company
Our History
Our Ideal Client
Our Proven Success
Our Team
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Our Proven Success
Our Company
Our History
Our Ideal Client
Our Proven Success
Our Team
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Our Team
Our Company
Our History
Our Ideal Client
Our Proven Success
Our Team
Annual Transactions
$5.8B
SF Leased & Managed
270M+
Phoenix Market Overview
A Shock to the System: Unprecedented Sublease Inventory
Representative Options
NOV
Strategy Development
Market Review & Space Selection
Negotiations
Lease Execution
Construction
Design Services - 1- 5 weeks
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Order Services - 1- 4 weeks
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Receiving - 1 week
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Testing Comissioning -
1 - 8 weeks
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Preinstallation - 1 - 8 weeks
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Finalization - 1 - 8 weeks
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The Team
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References
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100,000 sq ft
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Thanks
About Stream
01
Project Team
02
Current Situation
03
Market Overview
04
Transaction Process
05
Representative Options
06
SCOTTSDALE
PREPARED BY STREAM REALTY PHOENIX
November 17, 2022
PREPARED FOR
Don Rogers, Erica Linn & Peter Kolaczynski
PLATFORM RESOURCES
Tenant Representation
Project Evaluation
Space Planning & Workplace Strategy
Site Selection
Design & Construction Consulting
Financial & Strategic Consulting
Core Team
Extended Team
Tiffany Winne
Executive Managing Director & Partner
Mike Miller
Senior Associate
David Kollar
Vice President – Workplace Strategy & Construction
Sam Price
Executive Adminstrator
Olesia Belkin
Regional GIS Manager
Thomas Galvin
Director of Research
JoAnn Hwang
Senior Analytics Director
Negotiation
Local Intelligence
Long-Term Support Model for Yardi's Arizona Office
The Stream Phoenix Team is available to assist and counsel Yardi
throughout the life of the lease.
Quick Facts
Market
Updates
Scenario
Planning
Space Planning
& Budgeting
Expansion/
Contraction
Dispute
Resolution
Current Situation
BUILDING SIZE:
BUILDING VACANCY:
OWNER:
YEAR BUILT:
135,891 SF
51%
City Office REIT
2006
PIMA CENTER
9200 E. Pima Center Parkway
• Employees have the option to work from home, but can be called into the office at any time
• As of March, approximately 4% of Yardi’s employees were coming into the office nationwide
• Yardi has no “cookie cutter” approach for its portfolio, each office is different depending on the market
• Space reductions have not typically exceeded 50%
• Yardi prefers buildings with training rooms, conference centers, etc. to minimize its ‘paid’ footprint
• Scottsdale location preferred, but open to relocation
Workplace Strategy
9200 Bldg: Suite 150
9000 Bldg: Suite 170
9000 Bldg: Suite 290
Former
First American Title space
13,414 SF (Divisible)
Former
First American Title space
17,672 SF (Divisible)
9200 Bldg: Suite 150
9000 Bldg: Suite 170
9000 Bldg: Suite 290
Landlord Profile – City Office REIT
• City Office REIT is an internally managed real estate company focused on acquiring, owning & operating office properties in the Southern & Western US
• Currently own 6M SF throughout the country, with approx. 1M SF here in Metro Phoenix
• Phoenix portfolio consists of 23 buildings, with most of these assets running at a 90%+ leased status, with 16 assets being fully leased
• Current building at 9200 E. Pima Center Pkwy. is an outlier, with a 49% leased rate
• Recently hired a new asset manager on the local level
OFFICE INVENTORY:
VACANCY RATE:
MARKET RENT/SF:
SUBLEASE INVENTORY (SF):
97M
17.6%
$28.21
6.7M (Class A = 4.1M SF)
• Office fundamentals weakened by COVID and work-from-home
• A notable flight to quality has benefited superior product
• Rental rates are continuing to climb for top-of-market office product (new construction and recent renovations), but concessions have increased apace
• Construction costs up 25% since pre-pandemic
• Strongest current tenant demand in Camelback, Scottsdale and North Tempe
• An influx of sublease offerings has flooded the market since the pandemic began
• Southeast Valley has the highest concentration of sublease availability, with relatively fewer offerings in Scottsdale
• This dramatic uptick in available sublease space throughout the past two years has applied pressure on direct asking rates and created significant opportunities for tenants
Size: 460,000 SF
Available SF: 99,798 SF
Asking Rate: $40.00/FSG
Owner: Nationwide
Year Built: 2021
Floors: 5
Submarket: Scottsdale Airpark
On-Site Amenities:
Starbucks, full-service food operator, conference facilities and retail center which includes dining options, retail & Hilton hotel
CAVASSON | 18700 N. Hayden Rd.
Size: 169,189 SF
Available SF: 83,295
(BlueYonder sublease space)
Asking Rate: $40.00/FSG
Owner: Washington Prime Group
Year Built: 2015
Floors: 6
Submarket: Scottsdale Airpark
On-Site Amenities:
Various retail, dining & entertainment amenities within walking distance, as this is part of the mixed-use development, Scottsdale Quarter
SCOTTSDALE QUARTER | 15059 N. Scottsdale Rd.
Size: 175,110 SF
Available SF: 175,110 SF
Asking Rate: $39.00/FSG
Owner: Trammel Crow Company
Year Built: 2021
Floors: 3
Submarket: Scottsdale Airpark
On-Site Amenities:
Press Coffee, conference center &
tenant lounge/kitchen
AXIS RAINTREE | 8605 E. Raintree Dr.
Size: 142,000 SF
Available SF: 84,516 SF
(GlobalTranz sublease space)
Asking Rate: $24.00/FSG
Owner: Farallon Capital
Year Built: 2005
Floors: 1
Submarket: Central Scottsdale
On-Site Amenities:
Building Café + located next door to Topgolf
RIVERWALK ARIZONA | 7350 N. Dobson Rd.
Size: 175,850 SF
Available SF: 20,160 SF
(MassMutual sublease space)
Asking Rate: $33.50/FSG
Owner: Principal Financial Group
Year Built: 2007
Floors: 6
Submarket: Scottsdale South
On-Site Amenities:
Fitness center, Roaring Fork restaurant, deli, tenant lounge + 100 person auditorium
PORTALES CORPORATE CENTER II | 4900 N. Scottsdale Rd.
Size: 244,094 SF
Available SF: 237,825 SF
Asking Rate: $40.00/FSG
Owner: Bridge Commercial
Year Built: 2022
Floors: 3
Submarket: Scottsdale South
On-Site Amenities:
Restaurant, coffee shop, tenant roof top amenity deck, fitness center, conference center & outdoor park + meeting areas
SCOTTSDALE ENTRADA | 6400 E. McDowell Rd.
Size: 154,860 SF
Available SF: 61,298 SF
Asking Rate: $36.00/FSG
Owner: The Plaza Companies
Year Built: 2016
Floors: 4
Submarket: Scottsdale South
On-Site Amenities:
Multiple restaurants, deli/coffee shop, conference facilities & hotel
SKYSONG 4 | 1355 N. Scottsdale Rd.
SIZE:
EXPIRATION DATE:
RENTAL RATE FOR LAST
12 MONTHS OF TERM:
21,987 SF
12/31/2023
$30.28/SF Full-Service Gross
LEASE DETAILS
Previously expanded twice within the building.
Northeast Valley: A Brighter Picture
Quarter-Over-Quarter Trends
VACANCY
Absorption
RENTAL RATES
• Overall vacancy of 13.84% is 21.4% lower than the overall market
• 1.1M SF of sublease inventory, up from 837k pre-pandemic
• Average asking rate $30.18/sf
Transaction Process
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
2022
2023
Lease Commencement
Table of Contents
About Stream
Project Team
Current Situation
Phoenix Market Overview
Transaction Process
Representative Options
1.
2.
3.
4.
5.
6.
The Company We Keep
Current Location
Process Timeline
JAN
2024
Permit
Construction Documents
General Contractor RFP
Design Delevopment
Schematic Design
Architect RFP
PLANNING FOR YOUR FUTURE
Analyze the Environment
Backed by science and analytics, we apply location intelligence to guide our site selection strategies. We analyze submarkets, transit access, labor and amenities to provide a full analysis of the prospective enviroment.
Amenities
Available Labor
Commute Time
Area Demographics
Transit Access
Submarket Trends
Employee Heat Maps
Sample Deliverable
Sample Deliverable - Space Program & Furniture Strategy
FF&E EXAMPLES
Office I
Office II
Office III
Workstations III
Workstations II
Workstations I
Collab Settings I
Collab Settings III
Sample Deliverable - Test fit floorplan
Key Areas
Finished
Sample Deliverable - Test fit
Sample Deliverable - Anticipated Cost Report
Questions?
Size: 135,891 SF
Available SF: 51,751 SF
Asking Rate: $32.00/FSG
Owner: City Office REIT
Year Built: 2008
Floors: 3
Submarket: Central Scottsdale
On-Site Amenities:
Tenant lounge, conference room, training areas
THE CORPORATE AT PIMA CENTER | 9000 & 9200 E. Pima Center
Collab Settings II
