Guest post by CBRE.
Amsterdam-born workspace pioneer Spaces has selected One Renaissance Tower at 2 N. Central Ave. in downtown Phoenix for its debut in Arizona. Spaces will occupy the 18th and 19th floors, totaling 39,743 square feet, making it the largest co-working space in Arizona when it opens in December 2017.
Kevin Calihan with CBRE’s Phoenix office, negotiated the 13-year lease on behalf of Spaces. The upfront capital investment into the space will exceed $5 million.
“Spaces is a huge win for Phoenix because it will directly foster the city’s growing ecosystem of startups, entrepreneurs and technology companies,” said CBRE’s Calihan. “The concept ties in perfectly with the $50 million in modern renovations underway at Renaissance Square.”
Spaces will feature modern, high-tech private office spaces, dedicated work stations in communal spaces, informal and formal meeting rooms, on-site food and beverage amenities, and more. Concierge-style hospitality services, such as dry cleaning and floral services will also be available.
“We’re are continuing to expand the Spaces brand as demand for co-working is on the rise in Phoenix,” said Michael Berretta, Vice President of Network Development, Americas at Spaces. “There is a lot of opportunity in the city, which is experiencing growth in the technology and manufacturing sectors, proving to be a hot spot for innovators and entrepreneurs to start and thrive.”
The co-working brand offers flexible and tailored memberships, and members have access to Spaces locations across the country as well as Regus’ 3,000 workplaces in 900 cities and 120 countries. There are more than two-dozen Spaces locations already open across the U.S., with another 100 slated to open. Additional Arizona locations are planned for Tempe and Scottsdale.
“We’re confident that co-working is the future of work and we are excited to kick off our involvement in Phoenix. We’re looking forward to watching connections and businesses grow as part of our Spaces network by providing an inspiring and flexible environment for the region’s most innovative business leaders,” added Berretta.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.