Employment Training Provider Adding 1,000 Jobs After Leasing Phoenix Office Building

Article originally posted on CoStar on March 29, 2024

Peckham, a nonprofit vocational rehabilitation organization that provides training and job opportunities for persons with significant disabilities and other barriers to employment, leased all of the space in the One Compass Center office building in Phoenix, spanning more than 136,000 square feet. The organization plans to create 1,000 local jobs as the location is used as a regional call center.

The office lease was among the region’s largest of the year and resulted from a three-part negotiation among brokers for landlord Menlo Equities, Peckham and a prior tenant subleasing space in the building, according to those involved with the transaction. For its potential to create new jobs and other economic ripple benefits for the region, the lease was chosen by a panel of local judges for a 2024 CoStar Impact Award for lease of the year.

About the Project: Lansing, Michigan-based Peckham leased the full four floors of the One Compass Center office building at 3150 S. 48th St. in Phoenix.

What the Judges Said: The transaction is significant for “what the occupancy represents to the community and the company employees,” said Stephen Leach, senior vice president at Realty Economic Advisors. Ryan Sarbinoff, vice president and regional manager with Marcus & Millichap, called the deal a “quick and efficient sublease with a significant number of moving pieces” that will ultimately have “excellent social and economic impact.”

“With the office market so dramatically impacted since the pandemic, this was a much needed boost for the office market and the fact that it will be employing hundreds of individuals with disabilities fills an impactful need in our community, helping serve the less fortunate,” said Jeff Foster, regional vice president and market officer for global industrial developer Prologis.

They Made It Happen: The landlord was represented by Michael Sayre, Pat Boyle and Jerry Roberts of Cushman & Wakefield. The tenant was represented by Kyle Seeger and Ryan Bartos of JLL.