Valley Metro Rail Inc., which has begun construction of the Metro Light Rail system in the Valley, will soon be moving its headquarters.
The agency has signed a lease for 57,007 square feet of space on the ninth through 13th floors of the U.S. Bank Center, 101 N. First Ave. It is moving from its current quarters at 411 N. Central because that building will be occupied by Arizona State University as part of its new downtown campus.
Cushman & Wakefield of Arizona Inc., which is Valley Metro Rail’s real estate representative, Friday announced the lease. The relocation is expected to take place in December.
"We wanted to stay in downtown Phoenix and were very pleased to find available space at the U.S. Bank Center," said Rick Simonetta, Valley Metro Rail’s chief executive. "It’s really in the perfect location — right along our light rail route and close to government offices and Copper Square restaurants."
Don T. Rodie of Cushman & Wakefield represented Valley Metro Rail in the lease negotiations, while Charles Miscio and Keith Lambreth of CB Richard Ellis represented the landlord, Bankam LLC. Judy Klein of Amerimar First Management, manager of the property, assisted in the transaction.
Valley Metro Rail is a nonprofit, public corporation overseeing the design, construction and operation of the Metro Light Rail system, expected to open in 2008.
