PHOENIX, ARIZONA (July 23, 2019) – NAI Horizon represented a national insurance provider in a pair of long-term leases at The Reserve at San Tan and Fiesta Tech Business Park in Gilbert, Arizona.
NAI Horizon Senior Vice President Isy Sonabend represented Progressive Casualty Insurance Co. of Mayfield Heights, Ohio, in two new lease signings totaling $4.18 million.
Progressive Casualty Insurance is occupying 25,193 SF at The Reserve at San Tan, 339 E. Germann Road, a 105,000 SF office/flex building in the highly sought-after Southeast Valley submarket. The new space will serve as a claim center.
Progressive is also occupying 42,149 SF at Fiesta Tech Business Park, 1395 N. Fiesta Blvd., a 73,283-SF building. Progressive plans to use this space for a training center. Fiesta Tech Business Park is located in the Gilbert submarket, which was ranked among the fastest growing cities in the U.S. It is less than one mile from the US 60 and Loop 101.
“To better serve their customers, Progressive Insurance has enlarged its footprint in Gilbert by expanding service and data centers in the Southeast Valley,” Sonabend said.
The Reserve at San Tan is within close proximity to Crossroads Towne Center which comprises more than 1.2 MSF of retail amenities including more than 32 restaurants. It is an ideal location for back office employment with access to more than 1 million people within a 30-minute commute. It features a full diamond interchange at San Tan Freeway (Loop 202) and Gilbert Road.
Reserve at San Tan 4 LLC of Phoenix, was represented by Mike Garlick of Newmark Knight Frank. AEI Fiesta LLC of Los Angeles was represented by Evan Koplan of CBRE.