Vestar, the largest privately owned shopping center owner and manager in the western United States, announced today that it has signed a lease for 12,000 square feet for new office space on the first floor of Esplanade III at 2415 E. Camelback. signed street in Phoenix, Arizona. The new premises represent a relocation of the headquarters where Vestar has been for 30 years and also consolidate several branch offices. The new space will help facilitate Vestar’s ever-growing shopping malls and real estate operations in the United States. ALSO READ: Here are 10 Biggest Commercial Real Estate Deals of June Designed by award-winning Gensler Architects, the new headquarters will be a modern, open and creative environment with 22 feet of floor-to-ceiling glass, an outdoor deck and multiple areas for collaboration, Brainstorm and exchange ideas. Vestar’s new office will host around 70 employees in various departments including leasing, acquisitions, property management, marketing and development. “This new office, which has grown out of our existing space, offers the latest strategy and design for the changing work environment and makes us fit for the future,” said David Larcher, President of Vestar. Vestar was represented by Tom Adelson with Newmark Knight Frank. The client, CIII Capital Partners, was represented by Transwestern.
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