Savills Studley Represents iFactor in Major Expansion in Tempe
Leading commercial real estate tenant representation firm negotiates a long-term lease for tech firm experiencing dramatic growth at the new Hayden Ferry 3 property
Phoenix, AZ (August 10, 2015)  

Savills Studley represented utility software company iFactor with its long-term lease agreement at the new Hayden Ferry 3 development under construction in Tempe, AZ.

Ryan Bartos and Matthew Coxhead of Savills Studley’s Phoenix office negotiated the transaction on behalf of iFactor; Bryan Taute of CBRE represented the landlord, Parkway Properties, Inc.

iFactor signed a lease for 17,000 square feet to accommodate future growth. The new space is located on the fifth floor of the building and will create an open floor plan to encourage collaboration. The firm has grown over 38 percent in 2015 and expects to grow an additional 45 percent within the next two years.

“We were able to negotiate deal terms at Hayden Ferry 3 that will help iFactor attract and retain great talent, including a great signage package and lease flexibility that accommodates their future needs from a growth perspective,” said Bartos. “Situated in the rapidly developing Downtown Tempe area, the location gives employers access to an abundant pool of talent with the largest public university in the country – Arizona State University – located only five minutes away, while also providing an amenity-rich downtown vibe that the millennial workforce is attracted to.”

The new iFactor office will feature a number of collaboration spaces and video conferencing in meeting rooms to support communication between employee teams and the utility companies using iFactor software. The Tempe-based company currently occupies 8,000 square feet of space at Hayden Ferry’s second building and expects to move into its new space in December.

Over the last 24 months, Bartos and Coxhead have completed three transactions within the development and are consistently impressed with Parkway Properties’ ability to think outside the box to maximize tenant satisfaction.

“It is exciting to see local firms continue to flourish in this market and we look forward to seeing iFactor’s future success,” added Coxhead.

Hayden Ferry 3 offers custom-build, modern office space that features views of the Tempe Town Lake and the surrounding area, an on-premise gym facility and close proximity to Mill Ave., which touts a variety of restaurants. Phoenix’s light rail is located only a few blocks away.

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 28 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

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