SOURCE: Lincoln Property Company

Lincoln Property Company

April 07, 2011 14:17 ET

Sprouts Expands Headquarters Lease to 32,000 Square Feet on Heels of Merger

PHOENIX, AZ--(Marketwire - April 7, 2011) -  The Phoenix office of Lincoln Property Company, a full-service real estate firm providing property management, receivership services, leasing, development and project management, announced that Sprouts, a national chain of markets, recently signed a 32,306 square foot lease renewal and expansion at Paradise Village Office Park, located at 11811 North Tatum Blvd., Phoenix, Arizona.

The lease renewal and expansion comes on the heels of the recent merger announcement of Sprouts and Henry's Farmers Market. The corporate headquarters will be run out of the Sprouts offices at Paradise Village Office Park.

"We are extremely pleased to continue to have Sprouts as a tenant at Paradise Village Office Park," said Cooper Sutherland, Vice President | Real Estate for Lincoln Property Company. "Given the growth of the firm and the merger, we're excited that the headquarters will remain in the Valley."

Paradise Village Office Park is owned by a joint venture of Sterling American Property Inc. and Lincoln Property Company. In addition, Lincoln Property Company manages the 268,598 square-foot office property.

Brokers for the transaction were Scott Maxwell with CRESA Partners, who represented the Tenant, and Cooper D. Sutherland with Lincoln Property Company, who represented the Landlord.

LINCOLN PROPERTY COMPANY

Founded in 1965, Lincoln Property Company (Lincoln) is nationally recognized for its full-service, vertically integrated institutional investment and property management platform. Lincoln has approximately 4,400 employees and maintains a presence in more than 200 U.S. cities and 10 countries. Since 1965, Lincoln has acquired and developed approximately $34.3 billion of residential and commercial property. The company currently manages over 119 million square feet in the United States. Lincoln is ranked by Commercial Property News as one of the largest developers and property managers in the United States.

Lincoln's West Regional office, based in Phoenix, Arizona, has developed in excess of 2.9 million square feet, acquired 2.1 million square feet and manages 4.7 million square feet of commercial space. Lincoln is consistently ranked in the Phoenix Business Journal Book of Lists. For more information, visit http://www.lpc.com.

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