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Phoenix

JLL Inks Sprouts Farmers Market HQ Lease at The Offices on High Street

Grocer to occupy three floors of office space plus first floor retail location


PHOENIX, July 9, 2014 – The Phoenix office of JLL has completed a 77,400-square-foot, long-term lease with Sprouts Farmers Market, bringing the grocer’s corporate headquarters and a ground-floor Sprouts Farmers Market natural and organic grocery store to The Offices on High Street. The Offices on High Street is the office component of High Street, a mixed-use development in North Phoenix encompassing four city blocks of high-end office, retail, multifamily residential, dining and entertainment.

JLL Managing Director John Bonnell and JLL Vice Presidents Brett Abramson and Greg McMillan represented High Street in the lease transaction. Scott Maxwell from Cresa represented Sprouts Farmers Market.

“We are extremely pleased that High Street could meet Sprouts’ desire to provide its team members with a headquarters reflecting the company’s unique brand and culture, and its requirements for sustainability,” said Bonnell. “High Street is easily accessible via the Loop 101 and State Route 51, and is in one of the Valley’s most amenity rich neighborhoods, which is ideal for Sprouts team members and visiting guests.”

Sprouts is scheduled to move from its current headquarters location in the Paradise Village Office Park, near Tatum Boulevard and Cactus Road in Phoenix, to 5455 E. High Street during spring 2015.

The Offices on High Street encompass seven buildings totalling 330,000 square feet of office space. They sit within the High Street mixed-use project, which also includes 99 high-end multifamily units and 175,000 square feet of sophisticated ground-floor retail, dining and entertainment.

Sprouts joins existing High Street office tenants Gigya Inc., Alliance Financial Resources, Nobis Technology Group and Yeager North.
High Street is located at the intersection of the Loop 101 and 56th Street, just east of State Route 51 in North Phoenix. It sits within the 5,700-acre Desert Ridge, Arizona’s largest master-planned community, which also includes a 268-bed Mayo Clinic Hospital, American Express Regional Campus, JW Marriott Resort and Spa, Wildlife Golf Club and Musical Instrument Museum (MIM). The project is just a short drive from Sky Harbor International Airport and the entire Phoenix and Scottsdale metropolitan areas.
High Street is owned by Portland-based real estate private equity firm ScanlanKemperBard Companies and Wayzata Investment Partners LLC.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About JLL
JLL (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 $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. JLL is the brand name of Jones Lang LaSalle Incorporated. For more information, visit www.jll.com.

In Phoenix, JLL is a market leader employing nearly 500 of the region’s most recognized industry experts offering office, industrial and retail brokerage, tenant representation, facility and investment management, capital markets and development services. In 2013, the Phoenix team completed 10.3 million square feet in lease transactions valued at $512 million, directed $72 million in project management and currently leases and/or manages a 22.8 million-square-foot portfolio. For more news, videos and research resources on Jones Lang LaSalle, please visit www.jll.com or www.jll.com/phoenix.