Starting Points
According to JLL, the firm generated “annual revenue of $18 billion in 2019, with operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020.” The Phoenix office market is a valuable component of that activity, performing as one of the nation’s strong – and growing – commercial metros. “Arizona has an outstanding talent base, affordable real estate and low cost of living. These benefits have an onslaught of technology companies moving their operations to Phoenix from other markets,” says Bartos. “Because of this, we believe that the local technology industry is going to be one of the main drivers of Arizona commercial real estate for the next five to 10 years, and we are going to see enormous growth of the ecosystem,” says Seeger.
Background
An Arizona State University graduate, Bartos began his career at Pulte Homes before turning his attention to CRE. “I started in residential development, and I loved being in real estate, but I pretty quickly realized that my interest was on the commercial side of things,” he says. Seeger, a University of Arizona alumnus, had a role model to emulate. “I grew up watching my father, who was a commercial real estate broker, and I knew that is what I wanted to do,” he says. “I interned on Ryan’s team prior to my senior year at U of A and was fortunate after graduation to earn my first position with him.”
Opportunities such as Opendoor provide Bartos and Seeger the fuel to further advance their market position in this fast-paced segment. “We realize that with their high-growth nature, startup companies need to structure their real estate transactions different than traditional companies,” says Seeger. “Startups are a unique creature, full of creative leaders and visionaries who are not afraid to tackle new business concepts.”
Team Approach
Seeger and Bartos’ vision and passion for startup and highgrowth organizations explains their exceptional reputation in the space. “In partnering with Kyle, I have been able to work with a team member who has the same values, can-do attitude and drive for success,” Bartos says. “Ryan’s creativity, his positive outlook and his deep market knowledge pairs well with these types of firms, allowing him to get to know the core needs of his clients and match those needs with the perfect commercial space,” says Seeger. Together, both professionals are constructing a blueprint on how to position vibrant technology firms into the perfect commercial sites across Greater Phoenix. “Often, these new market entrants lack the powerful balance sheet of a Fortune 500, which can make it more difficult to secure ideal locations due to lack of financial strength,” says Bartos. “This is where we can provide experienced advisory services, and where
“Often, these new market entrants lack the powerful balance sheet of a Fortune 500, which can make it more difficult to secure ideal locations due to lack of financial
strength,” says Bartos. “This is where we can provide experienced advisory services, and where our understanding of the market can help uncover opportunities that a startup might not have been able to identify on its own,” says Seeger.
Technology
The Valley’s technology and innovation ecosystem is booming and catching the attention of startups, middle-market and Fortune 500 companies. A recent Inc. piece showcased the dynamism of the region: “The Next Tech Hub Is Not Austin or Denver. The Next Tech Hub Is Greater Phoenix.” Ask Bartos and Seeger, and this expansionary cycle is exactly what they had in mind. “We have been involved in this sector since its emergence in the Valley, and there are many home-grown technology companies that are expanding faster than they ever have before,” says Bartos. “The more our experience with these types of companies grew, the more we were able to establish ourselves in this niche as it developed around us,” says Seeger. The pair recently completed a transition for Opendoor, the home transaction platform, from the Quad in Scottsdale to Watermark in Tempe. “The expansion will quadruple the company’s footprint in the Valley to 100,000 square feet and support the hiring of 1,000 employees in the next few years,” says Bartos. © MPmedia, LLC 2020
our understanding of the market can help uncover opportunities that a startup might not have been able to identify on its own,” says Seeger. A roster of the team’s recent accomplishments demonstrates the approach is working well: • Oscar Health –150,000 square feet at Circuit Tempe • WeWork – 70,000 square feet at Watermark • Nextiva – 100,000 square feet at Alter Riverwalk • Upgrade Inc. – 60,000 square feet at Ren Square • Sendoso – 40,000 square feet at Camelback Tower/ Scottsdale
Future
Advancing high-growth startups in the metro is top priority for the JLL professionals. “We are relationship-driven and client-centric,” says Bartos. “The technology industry in Arizona is primed to continue its success and, together, we are maximizing our knowledge and strengths for the benefit of tech and startup companies who call Greater Phoenix their home.”
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