Wireless Provider Signs Five-Year, $2M Deal for Relocation

PHOENIX-A telecommunications firm is relocating one of its service centers to the far north sector, signing a 10,278-sf lease with a five-year term for Anasazi Plaza II. The payout over the class A lease’s term is $2 million.

Cricket Communications is planning a second-quarter move to the 109,961-sf Anasazi Plaza II at 11201 N. Tatum Blvd. from 2053 E. Camelback Rd. According to John Bonnell with Trammell Crow Co.’s Phoenix office, Cricket is relocating because of the office complex’s convenient and less-congested location in the Paradise Valley submarket.

A more reasonable lease rate, in addition to nearly $200,000 of office improvements, also played a role in getting the tenant, Bonnell tells GlobeSt.com. The Anasazi Plaza space is marketed at $23.50 per sf to $25 per sf.

Cricket is the operating subsidiary of San Diego-based Leap Wireless International Inc., a wireless company with unlimited flat-rate local calling and prepaid roaming options. The Staubach Co.’s local broker, Pat Williams, bargained on the tenant’s behalf. Bonnell and TCC colleague Jason Moore represented the owner, REIT Management & Research LLC from San Diego.

Bonnell says the deal pushes Anasazi Plaza II, built in 1999, to 80% occupancy. “We’re in the process of signing an additional space, which should push occupancy to above 90%,” Bonnell says. The REIT also owns a sister building, the 96,168-sf Anasazi Plaza, which is 91% occupied.