Education Firm Picks Tempe Open-Plan Office Space For Major Expansion, Inks 40K SF Deal
Varsity Tutors signed a lease for 40K SF in Rio2100 in Tempe, representing a move from Scottsdale and an expansion in the Phoenix area. The new location will serve as the company's national sales and customer support center.
Completed in March, the first phase of Rio2100 offers a total of 100K SF and includes an additional two-story office building, supporting retail space, restaurants, multifamily housing, a Hilton Garden Inn and a Homewood Suites.
Varsity Tutors connects students to experts for online, mobile and instant instruction via its digital platform, as well as connecting students to experts in person nationally. The St. Louis-based company expanded into Arizona in September, when it had 25 employees at its Scottsdale location. Since then, it has hired 50 more and plans more hiring.
“We continue to invest in Phoenix, given the amount of sales talent here and the highly educated workforce," Varsity Tutors founder and CEO Chuck Cohn said.
In 2015, the company raised $50M in funding from Technology Crossover Ventures, Adam Levine and others to pursue its expansion.
“The new office will feature highly functional floor plans and 18-foot ceilings, allowing for a space that reflects the company’s culture of collaboration and continuous learning,” JLL Executive Vice President Ryan Bartos said.
Bartos and colleague Kyle Seeger repped Varsity Tutors.
In April, Freedom Financial Network leased a 300K SF build-to-suit at the Rio2100 development, which spans 52 acres near Loop 101 and Loop 202. The San Francisco-based financial services company will occupy two four-story buildings at the north end of the business park, within its second and third phases.