|By Alan, Ken|
Upscale business tenants looking for Class A office space in
"This landlord was brave to do it. He didn't have anyone lined up in advance and, you know what? They came. We are having, a lot of success leasing (the offices)," said
Tenants attracted to the property are mostly coming from the financial services sector - a bank, a title company, stock brokerage and insurance. "We had a couple of residential real estate companies fighting for space in that building," said Lyle.
"There's not a lot of Class A (office space) in the
"It's a very tight market. The vacancy factor is really low in this one area of the desert," adds Lyle.
Even though he still maintains a home in
The renovation also added many new windows. "It was very dark before. All the new glass is energy efficient. Every office has a mountain view. There isn't a bad office in the building," he said.
The Five Hundred building, at the corner of
"We will be making our own pastries, cookies and scones right in the (cafe) kitchen. It'll be more than just coffee and espresso drinks, we're going to have Italian sodas and fruit smoothies. Every (tenant) employee will have their own account...and they can order online from their desk...and we can deliver or they can pick-up," said Monahan.
"The in-house coffee shop will be a definite plus for business - being able to take your clients across the hall as opposed to having to meet them outside," said
Ice cream and other frozen novelties will be available at et
The conference room, called
Contemporary waterfalls bookend the twin lobbies at each end of the main floor. The interior decor and common area furnishings are ultra high-tech, yet warm and inviting. The building is listed as having 19,343 square feet of leasable space with a rental rate of
No longer to be known as the "Alan Ladd building," The Five Hundred will memorialize the former owner's legacy in two plaques, one in each lobby, inscribed with this message: "Operated by the
With the paint barely dry on this project, Monahan already knows what is next challenge will be: "I will find another building. Not residential, but commercial - although probably not to this scale. I'll either build something or find another one to renovate. But I want to be in
|Copyright:||(c) 2013 Desert Publication, Inc. and Sharon Apfelbaum|