June 05, 2019
PHOENIX, ARIZ. – Transwestern Commercial Services (TCS) today announces it has completed a long-term, 16,000-square-foot lease for Tallwave’s new downtown Scottsdale headquarters at 4110 N. Scottsdale Road. Justin Himelstein, TCS Senior Vice President and leader of the Phoenix Occupier Solutions group, has provided real estate advisory services for the business design and innovation firm since 2010.
Himelstein has assisted Tallwave in six leases as it expanded from its first 500-square-foot lease. At its new headquarters, Tallwave has the option to expand. Himelstein negotiated a term well below market rate while garnering above-market concessions.
To accommodate future growth, Tallwave moved its headquarters from central Scottsdale to the Scottsdale Financial Center 1 at Indian School and Scottsdale roads near a growing number of technology companies such as Weebly and Yelp.
“Tallwave desired the fresh, vibrant energy in downtown Scottsdale, which matches the creative company’s culture,” Himelstein said. “Restaurants, retail and other walkable amenities are nearby, as is a young and high-quality employment base. With a low vacancy of 5% in downtown Scottsdale, we were happy to find a space that suits Tallwave’s needs so well.”
The collaborative space has an open feel with numerous glass windows, large meeting rooms, huddle rooms, a large conference room, and a relaxation room where staff can take a break and decompress. Tallwave recently completed a five-month tenant improvement project designed by Phoenix Design One and constructed by Stevens-Leinweber of Scottsdale.
“Tallwave is preparing for growth in the coming years,” said Jeffrey Pruitt, CEO of Tallwave. “Justin has expertly advised us on our real estate needs as our business has expanded during the last decade. He found spaces that improve our company’s bottom line, and we are thrilled with our new headquarters that fits our specific needs perfectly.”
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