by SILObreaker | Nov 19, 2012

September 17, 2012

Parallel Capital Partners, Inc. has announced that Ricoh Americas Corporation has renewed its lease for 4,901 square feet of office space at 3800 N. Central Avenue in the City Square Office Towers in downtown Phoenix, Arizona, 85012. The lease term is for 39 months.

The City Square Office Towers comprise three office buildings at 3800, 3838 and 4000 N. Central Avenue. The Towers range in height from 17 to 23 stories and offer a total of 737,403 leasable square feet. City Square Office Towers have achieved Energy Star certification from the US Environmental Protection Agency that distinguishes the property as one of the top 25% in the nation in terms of energy performance and environmental leadership.

Ricoh Americas Corporation was represented in the negotiations by David Barrett of CBRE. Parallel Capital Partners, Inc. represented itself.

Ricoh Americas is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services.

Parallel Capital Partners, Inc. ( is a real estate investment and operating firm that focuses on office, industrial and retail property acquisition in markets in the western U.S. and Hawaii. The company identifies opportunities where assets are undervalued and uses restructuring, capital improvements and superior leasing and management to turn value-added opportunities into core properties.