by Dan Peoples | Feb 06, 2013
February 5, 2013

NEWS FROM: Parallel Capital Partners, Inc. 

FOR INFORMATION: Matt Root, Parallel Capital Partners, 858-882-9506
Jim Ingebritsen, Parallel Capital Partners, 858-882-9504
Dan Peoples, Peoples & Company, 858-552-1456

Parallel Capital Partners Renews Universal Field at City Square

San Diego, Calif.  Parallel Capital Partners, Inc. has announced that Universal Field Services, Inc. has renewed 2,465 square feet at City Square in Phoenix, Arizona. 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. They are part of Phoenix City Square, the largest mixed-use commercial development in Arizona, which includes a 156-room Hilton Garden Inn, a 35,000-square-foot Sports Club and 2,230 parking spaces, all situated on 16 acres in mid-town Phoenix.

Universal Field Services provides land and right of way acquisition negotiations, relocation assistance, costs studies, permitting, project management and related professional services.

Both parties represented themselves in this transaction.

Parallel Capital Partners, Inc. (parallelcapitalpartners.com) is a private, fully-integrated real estate investment and operating company focused on acquiring value-added and core plus opportunities for our own account in the western United States and Hawaii.