CB Richard Ellis Takes Regus' Camelback Contract

PHOENIX-A Regus Business Center in the prestigious Camelback Corridor gets a CB Richard Ellis Inc. leasing team in the ongoing outsourcing of the international business centers. It is the sole Regus center in metro Phoenix.

The business center occupies the fifth floor of the 289,564-sf 24th at Camelback at Camelback office building at 2375 E. Camelback Rd. in Phoenix. Floor plates go from 35,000 sf to 40,000 sf in the class A building, owned by Houston-based Hines.

The New York City-based Regus owns more than 410 centers in 240 cities in 50 countries. Bob Gaudreau, Regus’ executive vice president, said in a prepared statement that the “alliance” with CBRE affords “an excellent opportunity to heighten awareness in the Phoenix market of the long-term benefits of outsourced space.” Still, the center is situated in a submarket where vacancy is 23.8% and leases haven’t been that easy to come by as brokers battle the office market downturn.