For Immediate Release
One of the nation’s largest providers of outpatient behavioral health care relocating office headquarters from Bellevue, WA
SCOTTSDALE, Ariz., March 25, 2021 – Cushman & Wakefield announced today the firm has represented LifeStance Health in the company’s corporate headquarters relocation to Scottsdale, Arizona from Bellevue, Washington. The behavioral health care company signed a lease for approximately 20,000 square feet of space at the Portales Corporate Center in Scottsdale that is owned by Principal Real Estate Investors.
LifeStance Health will occupy half of the top floor in the six-story Class A building at 4800 N Scottsdale Rd, known as Portales Corporate Center I, which it plans to occupy in early summer. The company has an ability to lease and expand into the full sixth floor for a total of 40,000 sf of potential future occupancy.
Cushman & Wakefield’s veteran tenant rep team of Larry Downey, Vice Chairman and Brett Thompson, Director, in Phoenix represented LifeStance Health in the transaction. The team also partnered with the Arizona Commerce Authority (ACA), Greater Phoenix Economic Council (GPEC) and the City of Scottsdale’s Economic Development division to help secure incentives for LifeStance Health’s relocation to Arizona.
Larry Downey said, “We were excited to be able to represent LifeStance in their search for a corporate headquarters. Having a national healthcare provider of their caliber is a great addition to Arizona.”
Michael Lester, CEO of LifeStance Health, commented, “We’re excited to relocate our corporate headquarters to Scottsdale, which will enable us to tap into the city’s diverse talent pool as we build our corporate team to support the next phase of growth.”
LifeStance Health’s new headquarters location is part of a two-building campus that is prominently located at Scottsdale Rd and Chaparral at the gateway to Scottsdale. The property is proximate to Loop 101 (Pima Freeway) and other major freeways, downtown Scottsdale as well as features on-site and nearby amenities.
The team of Chris Walker, Mike Beall and Jeff Wentworth with Cushman & Wakefield’s Phoenix office represented the landlord in the transaction.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About LifeStance Health
Founded in 2017, LifeStance Health is one of the nation’s largest providers of virtual and in-person outpatient behavioral health care for children, adolescents and adults experiencing a variety of mental health conditions. The company delivers personalized, data-driven and comprehensive care to help patients stay healthy and employs over 3,000 psychiatrists, advanced practice nurses, psychologists and therapists. LifeStance Health currently operates across 27 states and over 370 centers. To learn more, please visit www.LifeStance.com.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $88.1 billion in commercial real estate assets (as of December 31, 2020). The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
Media Contact:
Joshua Deale
Cushman & Wakefield
Communications Manager
West Region
Mobile: +1 415 677 0423
joshua.deale@cushwake.com
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