Colliers International selected by RED Development to handle office leasing of Block 23 at CityScape

Highly anticipated mixed-used project

Phoenix, June 11, 2019 – Colliers International has been selected by RED Development to exclusively handle the office leasing for its eagerly anticipated Block 23 at CityScape project in downtown Phoenix. The true mixed-use development will include 332 apartments, downtown Phoenix’s first full-service grocery store and 230,000 square feet of Class A office space, as well as additional restaurants and retail shops.

Situated at First and Washington streets in downtown Phoenix, Block 23 at CityScape is the area’s first major mixed-use project developed in years. Slated for completion later this year, the property includes a 13-floor apartment tower developed by StreetLights Residential that includes 332 units. The project also includes 230,000 square feet of Class A office space, which has already attracted WeWork and Ernst and Young as its first tenants.

Retail components of the development feature a 67,000-square-foot Fry’s Food Store and 50,000 square feet of additional retail space for shop and restaurant use, or which 12,000 square feet have already been leased to Blanco Tacos & Tequila, a Fox Restaurant concept. 

Block 23 at CityScape includes an on-site parking structure, with three levels of below-grade parking for residents and four above-grade levels of parking for office tenants and visitors. 

“We are thrilled to be part of this dynamic landmark project,” says Ryan Timpani, executive vice president at Colliers International. “Downtown Phoenix has become a 24/7 destination for corporate office users and residents alike, and this unique live-work-play development brings a sophisticated and modern environment to our evolving city. Anchored by the first true grocery offering downtown Phoenix has ever seen, Block 23 at CityScape has been enthusiastically anticipated by the market. We look forward to welcoming additional office tenants that will benefit from the extensive on-site amenities.”

Timpani and Todd Noel, senior executive vice president, of Colliers International will serve as exclusive leasing agents for the commercial office space at Block 23 at CityScape. 

About RED Development
"A wholly integrated commercial real estate company, RED Development is a mixed-use developer that maximizes asset value and performance for its mixed-use portfolio and high-quality retail properties that total 35 properties with over 19 million square feet in 11 states. Most notably, RED is the developer behind CityScape, the first vertically integrated mixed-use project in downtown Phoenix, AZ, and most recently, The Union Dallas in Uptown Dallas, TX, which brought the first urban grocery store to Dallas and won D CEO's 2019 award for Best Mixed-Use Project. For more than 20 years, RED has been a preferred partner for class AA office tenants, national retailers and investors. The company also works with third-party property owners seeking RED's expertise in remerchandising and repositioning properties to improve profitability and appeal. RED is a privately held company headquartered at CityScape and with a corporate office in Overland Park, KS. RED builds on its development capabilities as an active acquirer of existing properties. For more information, visit REDDevelopment.com."

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.

Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.

Colliers International in Arizona has served clients locally and globally for more than 35 years.


Related Experts
expert photo

Todd Noel

Senior Executive Vice-President

Phoenix

As a senior executive vice president with Colliers, I specialize in office and educational properties. Areas of expertise include corporate advisory, tenant representation, investments, sale/leasebacks, and leasing and build-to-suits. As the national director of Colliers International’s Education Services Group, the leading advisory group dedicated to the education industry, I lead a national team of 25 education professionals who understand and represent the varied real estate needs of educational companies and occupiers of educational facilities across the country.

My top-producing team in Phoenix includes Ryan Timpani, executive vice president; Kyle Campbell, associate vice president; Nick Bialkowski, senior associate; Matt Baniszewski, associate; and Morgan Carden, senior client services specialist. Our team leverages in-depth knowledge of the office and educational property markets to assist our clients in achieving their real estate and business objectives.

With exceptional experience and demonstrated success in education-based real estate, I have completed numerous assignments on behalf of local and national clients. From charter schools to universities, I take a strategic approach to address the unique considerations facing educational facilities and provide strategies and services that strive to reduce occupancy costs, increase efficiency and enhance enrollment.

In order to advise clients on all possible scenarios, I offer an integrated platform of services, including acquisitions, dispositions, identifying capital sources, site selection, portfolio planning, lease and sublease negotiations, lease restructuring, transaction and lease administration, construction and project management, strategic planning, and benchmarking.

As a trusted and experienced advisor, I represent my clients’ best interests and develop real estate strategies to identity opportunities that add value, reduce costs, and maximize ROI. I incorporate the highest standards of excellence and quality in my approach to serving each client. With a tenacious and focused negotiation style, I have developed a reputation for delivering the most aggressive deal terms for my clients.

Throughout a career spanning more than 18 years in commercial real estate, I have specialized in educational and office properties and corporate tenant representations. Prior to joining Colliers, I was with Trammell Crow Company, CBRE and Insignia/ESG.

View expert
expert photo

Ryan Timpani

Executive Vice President

Phoenix

As an executive vice president with Colliers International, I specialize in the sale and leasing of office properties locally and nationally, with extensive expertise in tenant and landlord representation, land for development, investments and build-to-suits. I partner with the top-producing team of Todd Noel, senior executive vice president; Kyle Campbell, associate vice president; Nick Bialkowski, senior associate; Matt Baniszewski, associate; and Morgan Carden, senior client services specialist.

I am proactive and persistent in business development and identifying opportunities for my clients. I thoroughly analyze financial and market trends to deliver aggressive real estate strategies to optimize the value of my clients’ real estate. Comprehensive services include acquisitions, dispositions, site selection, lease negotiations, occupancy cost analysis, financing options and market research. I develop leasing and sales strategies to achieve maximum ROI, while positioning properties to attract and secure quality tenants and buyers.

I have distinguished myself as a hardworking, ethical, knowledgeable and high-energy professional, who understands my clients’ requirements. My client-first approach is defined by my attention to detail, responsiveness, thorough follow-up and accountability. I take great pride in developing lasting client relationships. For me the relationship comes first, second and last.

I joined Colliers in 2010, with a background in sales.

View expert