Workspace Pioneer Spaces Coming to Scottsdale's Galleria

SCOTTSDALE, Ariz. - Jan. 3, 2018 - PRLog -- The Galleria's reputation as one of the most amenity-rich business addresses in the Phoenix metro area and 'a destination for growth' takes another major step forward. Creative workspace pioneer Spaces (https://www.spacesworks.com) has signed a lease for 32,000 square feet with plans to open its innovative co-working concept at the building in 2018. This will be the second Phoenix area location for Spaces, which has plans to open its first area facility in downtown Phoenix next month.  It also represents the first co-working presence in the Galleria, which is owned and managed by Stockdale Capital Partners. Spaces will offer entrepreneurs and businesses seeking smaller workspaces or more flexible lease terms the opportunity to be a part of the Galleria's growing business community.

Spaces is part of IWG plc, a global holding company which includes several brands including Regus, the world's largest provider of flexible workspace.

Spaces will occupy the first floor of the Galleria, taking advantage of the building's newly renovated $5 million lobby, completed earlier this summer. It will also access Scottsdale's thriving Downtown Entertainment District, a compact and bustling area of bars, cafes, restaurants and nightclubs around the W Hotel Scottsdale on Camelback and Scottsdale Roads.

"We're excited to bring our creative workspace concept to Scottsdale," said Michael Berretta, Vice President of Network Development, Americas at Spaces. "The Galleria's busy and energetic atmosphere is the perfect location for our second location in Arizona.  With a burgeoning business community and plenty of nearby dining, nightlife and shopping, it will be an ideal hub for entrepreneurs and business leaders to network and grow their companies."

Bryan Taute and Charlie von Arentschildt of the Phoenix office of CBRE represented the landlord in lease negotiations. Kevin Calihan, also of CBRE, represented Spaces.

"We've long believed the Galleria, especially the first floor, offers the kind of collaborative, creative, light-filled space coveted by users of co-working and flexible workspace options," said Steven Yari, Managing Partner of Stockdale Capital Partners.

The Spaces lease caps a productive last 18 months for the building, which has executed over 100,000 square feet in leases on behalf of new tenants in the market.  Last year, Indeed, Inc (https://www.indeed.jobs/career/SearchJobs/?3_22_3=%226496...)., reputed to be the world's largest job site, leased 50,000 square feet of space in the building for a flagship office with up to 400 employees.  Sisense (https://www.sisense.com), a New York-based business intelligence software-as-a-service company new to Arizona, also signed a lease and began hiring up to 50 employees. Content marketing and sales conversion services firm Clearlink (https://www.clearlink.com/join/) also opened a 350-person sales center.

"Companies continue to flock to downtown Scottsdale because the lifestyle appeals to key demographics, especially Millennial workers," said Daniel Michaels, Managing Director of Stockdale Capital Partners.  "It is extremely walkable, there are plenty of options for shopping, eating lunch or meeting up after work, there's a vibrant nightlife and plenty of quality housing units – with more to come. The Galleria is right in the middle of everything," he added.

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Stockdale Capital Partners:  Stockdale Capital Partners (http://stockdalecapital.com) is a vertically-integrated real estate investment firm with a 60 year family office heritage focused on owning and operating commercial real estate over multiple asset classes throughout the Southwest. Stockdale's leadership team has a long history of operational success and the firm's in-house property management team has the ability to easily execute cutting-edge renovations and/or reposition large properties. Stockdale has offices in Los Angeles, Phoenix-Scottsdale and Houston.

About Spaces: Spaces offers an inspiring work environment for professionals and growing businesses. In addition to office space, there are memberships and meeting rooms to help you think, create and cooperate with like-minded people. Spaces' goal is to offer inspirational surroundings with an entrepreneurial spirit where ideas are born, a company can evolve and valuable relationships are built. Spaces has locations in the United States, UK, The Netherlands, Australia and Asia. For more information, visit http://www.spacesworks.com or call 1-844-6-SPACES.

About CBRE Group, Inc.: CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue).  The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide.  CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.  Please visit our website at www.cbre.com.