Cushman & Wakefield announced that Texas-based Lucid Private Offices has leased a full floor totaling 26,910-square-feet at 24th At Camelback II, a Class A office building found along the Camelback Corridor in Phoenix.
The ‘trophy asset’ is owned and was developed by the partnership of Hines and Invesco Real Estate, global real estate investment firms, Cushman & Wakefield officials report.
Built in 2010, 24th At Camelback II is an 11-story, 306,877-sf Class A office building at 2325 E Camelback Road. The property is situated at the southwest corner of Camelback Road and 24th Street.
The coworking pioneer, Lucid Private Offices, is opening its Arizona location in March 2024.
Lucid Private Offices’ new flexible office space will feature over 100 private offices thoughtfully designed for maximum productivity including several large offices perfect for teams of 10 or more, collaborative coworking areas, state of the art meeting and board rooms, ample parking, outdoor workspaces, a fully stocked kitchen, and the latest IT infrastructure.
Cushman & Wakefield’s Scott Boardman and Kristina Cutillo together with Hines represented ownership in the transaction. Cresa’s John Pelletier and Austin Studebaker in collaboration with Locate’s Jim Sadler represented the tenant.
“We couldn’t have scripted a more on-brand location by choosing the nicest building on the most iconic corner in Phoenix for Lucid’s first Arizona location,” said Flip Howard, CEO of Lucid Private Offices.
“Hines ownership is the icing on the cake and hopefully this is the first of many Hines Class AA buildings with Lucid Private Offices,” added Howard.
Executive Director at Cushman & Wakefield Scott Boardman also offered a sentiment of joy for the deal to come together in such a smooth fashion.
“We are thrilled that Lucid Private Offices has selected 24th At Camelback II, a state-of-the-art office building, and the Phoenix market to continue its growth and expansion,” he said. “The flexible workspaces provider makes a really great addition to our quality roster and premier working environment.”