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Workspace Property Trust Taps JLL for 1.3M SF Portfolio Leasing

Workspace Property Trust recently selected the Phoenix office of JLL to lease its 1.3 million-square-foot Phoenix portfolio. JLL’s Mark Gustin, Steve Larsen and Mark Esslinger will represent the listings, which total 14 buildings in Cotton Center and an additional location at Elliot Road and I-10.

“The Workspace portfolio in Cotton Center is one of Phoenix’s largest concentrations of high-quality buildings offering tenants the ability to adapt as their businesses change and grow over time,” said Gustin. “Workspace has approximately 1 million square feet of life science tenants in their national portfolio. Expanding this presence in their Phoenix portfolio is a key initiative and they have the expertise to support that effort.”

According to the recently released JLL Life Sciences Outlook, COVID-19 accelerated national momentum for life sciences real estate demand with the worldwide prescription drug market expected to surpass $1 trillion by 2022 and benefit from pandemic-related tailwinds.

“Phoenix has a highly educated workforce and a growing research community – both of which are attractive indicators for life sciences companies and investors,” said Larsen. “We expect Phoenix to continue to grow in this sector, bringing with it a rising need for the kind of institutional real estate available through the Workspace portfolio.”


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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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