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Assists commercial banking group’s growth at Hayden Ferry Lakeside location
PHOENIX, May 6, 2013 – On behalf of California-based Silicon Valley Bank (SVB), the Phoenix office of Jones Lang LaSalle has completed a 25,579-square-foot lease expansion in the Hayden Ferry Lakeside I office building in downtown Tempe, Ariz. The announcement brings SVB’s total leased space at the building to approximately 75,000 square feet across three floors and currently makes it the largest tenant in the 10-story, Class A office property.
“Silicon Valley Bank is fulfilling its original expansion plans, which are going well and ahead of schedule,” said Jones Lang LaSalle Vice President Keith Lammersen, who represented SVB in the lease transaction along with Jones Lang LaSalle Vice President Jason Moore and Executive Vice President Jim Sadler. The building owner, Parkway Properties, Inc., was represented by its Vice President and Managing Director Mat Mooney and Senior Property Manager Mark Sanford.
SVB signed its original lease at Hayden Ferry Lakeside I in early 2013, moving into 49,374 square feet by mid-year. It uses the space for an IT and operations center and will use the additional space to continue to build the teams that are now located there.
“Our local talent, affordability and quality of life helped attract SVB to the Valley. Those factors continue to support the company’s local growth plan,” said Lammersen.
Jones Lang LaSalle is a leader in the Phoenix commercial real estate market. Employing nearly 400 of the region’s most recognized industry experts, the firm offers office and industrial brokerage, tenant representation, facility and investment management, capital markets and development services. In 2012, the Phoenix team completed 9 million square feet in lease transactions valued at $458 million, directed $63 million in project management and currently leases and/or manages a 19.8 million-square-foot portfolio. For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center webpage.
About Silicon Valley BankSilicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB) www.svb.com. Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management. For further information, visit www.jll.com.
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