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UBER LOCATING NEW OFFICES AT 111 W. MONROE IN DOWNTOWN PHOENIX ICONIC DOWNTOWN PHOENIX BUILDING ATTRACTING HIGH PROFILE TENANTS WITH MID-CENTURY MODERN RESTORATION
111 W. Monroe attracting diverse tenants with extensive building restoration and modern, unique new office and retail space
One of Phoenix’s most recognizable mid-century modern landmarks is undergoing a significant renovation project aimed at embracing the buildings vintage design features with a modern twist of style and technology. With the improvements already underway, the new digs are attracting a premier set of technology, design and entertainment (?) tenants to Downtown Phoenix in addition the traditional mix of government, legal, financial and administrative uses.
111 West Monroe has signed three high-profile tenants that add to the unique tenant mix, proving the office tower to be one of Downtown Phoenix’s hippest addresses. Uber, Cannon Design and Mornin’ Moonshine were attracted to the building for its distinctive design and renovations to the exterior ground floor, interior lobby, landscaping, signage and valet parking garage.
Rialto Capital, a national real estate investment and asset management company, in a joint venture with Ironline Partners, a Phoenix-based commercial real estate group (principals, Tim O’Neil and Robert Karber), are delivering a best in class, amenity rich property with 5 star customer service, at competitive pricing. The new ownership acquired the 50-year-old office tower in April 2014, admiring the property’s core urban location and functional configuration, which is ideal for both large corporations and small, entrepreneurial businesses.
Uber, a $40 billion company, will use this location as their Arizona operations office. A social juggernaut, Uber has become a household name by delivering on-demand car service at the touch of a button. The company demonstrated monstrous growth in 2014 and is constantly offering new employment opportunities in Arizona that continue to have a positive impact on the local economy.
Cannon Design, an international design firm, offers a range of services from architecture and engineering, to product design, graphics and interior design. With an award-winning creative work culture, the company utilizes the most advanced virtual technologies to fully integrate Cannon designers from all of their offices into a single unified firm without walls.
Mornin’ Moonshine is a boutique “grab and go” coffee concept created by DJ Fernandes, a local architect and restaurateur whose other projects include hotspots Vovomeena and Tuck Shop. As one of the pioneers of small batch and cold brew coffee in Phoenix, Mornin’ Moonshine will fuel Downtown Phoenix with specialty craft java.
111 W. Monroe’s exciting new tenants were drawn to the architecturally-unique building by its premier downtown location, proximity to light rail, bike sharing, valet visitor parking, and responsive local ownership. Uber and Cannon Design have already opened for business in the building. Mornin’ Moonshine will be open by Valentine’s Day.
“We are thrilled with the business community finding its way to 111 W. Monroe,” said Tim O’Neil of Ironline Partners. “The restoration is designed to raise the bar for architecturally significant properties in Downtown Phoenix, offering a destination for people who demand both institutional grade facilities and a local, boutique experience.”
Charles Miscio and Danny Plapp at Colliers International (602.222.5071) have the office leasing assignment and are welcoming smaller niche businesses by providing small, entrepreneurial, flexible ‘spec suite’ options while ensuring larger businesses’ needs are met through responsive ownership and custom interior space improvements. Some of the most desirable space at 111 W. Monroe remains available, as the penthouse boasts 27,000 square feet available with naming rights and spectacular city views. Although filling quickly, the building also has available ground floor retail space. Courtney Auther and Brian Kocour at Cushman & Wakefield(602.229.5967) have the retail leasing assignment.
Image courtesy of Rialto Capital Management.