Barker Pacific Group

Cigna Building - Phoenix, Arizona

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Scope

100,000 square-foot office, four levels, 9,000-square-foot freestanding restaurant.

Challenge / Description

BPG, through its Phoenix affiliate, Barker Mashburn Hope, acquired 29 acres in northwest Phoenix in 1984 for ground-up development.

Solution

Property entitlements were increased to enable greater density. BPG procured Cigna Healthcare of Arizon as the first major tenant, leasing over 50% of the project before construction started.

The project was 100% leased at completion in 1997. The project was sold in 1998.

Acquired

1984

Completed

1987. Sold in 1989.

Partners

Barker Pacific Group and Mashburn Hope

Financing
Construction – Permanent – Aldrich, Eastman and Waltch, First Interstate Bank

Major tenants

  • Cigna Healthplan of Arizona
  • Liberty Mutual Insurance Co.
  • TGI Fridays