Commercial Real Estate Firm Leases Former Morton’s Steakhouse Space
April 05, 2019
PHOENIX, ARIZ. – Transwestern Commercial Services (TCS) today announces it has leased 9,000 square feet at the former Morton’s The Steakhouse space at the Esplanade, 2501 E. Camelback Road in Phoenix to accommodate its continued growth with top industry talent.
The space faces the Camby Hotel and is adjacent to Starbucks and WeWork’s first coworking location in Phoenix. The space has 18-foot ceilings and 15-foot retractable glass windows that open to an outdoor patio that TCS plans to use to engage with the local real estate community through broker events, meetings, networking and social opportunities. The location, ground-level access, pedestrian experience and street visibility were key factors in TCS’ decision.
Managing Director Mark Stratz, who took over as Phoenix City Leader in January 2018, has emphasized the engaging and collaborative nature of the new office.
“Transwestern wants to emphasize the human element of commercial real estate and provide an environment that encourages connections and meaningful relationships between our team members, their clients and the larger community,” Stratz said. “Our new office will provide the physical space for our team members to develop creative real estate solutions and drive value for clients.”
Layton Construction is renovating the former restaurant into an open concept office space with multiple collaboration areas. Gensler is designing a clean and simple aesthetic with classic materials. Currently located in an office building at the Esplanade, TCS is expected to move into the new space this summer.
The firm has been expanding its roster of experienced brokers, including renowned Arizona real estate executive Jim Fijan. With more than 35 years of experience, Fijan has completed 120 million square feet of transactions with a total consideration of approximately $14 billion, obtaining record pricing in every Phoenix submarket.
“In the few months I’ve been at Transwestern, it has been clear the culture is different from other Arizona real estate firms,” Fijan said. “Our new space is key to fostering a collaborative environment and encouraging brokers to be entrepreneurial.”
TCS has also hired Justin Himelstein as Senior Vice President to lead the firm’s Occupier Solutions group in Phoenix. With 15 years of industry experience, Himelstein has been involved with more than 700 transactions for a total consideration exceeding $1 billion.
“Transwestern is actively pursuing the best talent in the industry. We are intentional in selecting individuals who will add to our growth and fit with our cultural. The future is bright at Transwestern and our new space reflects that,” Stratz said.
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.
Michelle McGinty, DRA Collective