American Express | Service Center Phoenix

Property Description

The Class A property consists of two, four-story office buildings connected by sky bridges on each level with a granite-clad façade and blue tinted windows. The Property is leased to American Express Travel Related Services Company, Inc. which provides financial and travel related services for consumers and companies worldwide. The tenant is an important operating subsidiary of American Express Company (“American Express”) and carries a stand-alone, investment grade credit rating of ‘A-’ from Standard & Poor’s, one notch above the parent company rating of ‘BBB+’. Founded in 1850, American Express is a Dow Jones Industrial Average component company and ranked #90 on the 2013 Fortune 500 List.

Business Essential Attributes

Developed in 1985 as a build-to-suit for the tenant, the Property is referred to as the American Express Service Center Phoenix and is part of an overall 985,000 square foot, five-building corporate campus, known as the American Express Beardsley Campus. The Beardsley Campus is a primary operational hub for American Express’ credit card business and is secured by gated vehicular access with around-the-clock security given the highly sensitive personal and financial information stored within the campus. The American Express Service Center Phoenix houses over 3,000 customer service professionals, who were, in part, responsible for earning American Express the highest overall rating in customer satisfaction among U.S. credit card companies by J.D. Power for seven consecutive years since 2007. The operations at the Property are supported by a mission-critical data center and two technical resources centers which represent the balance of the improvements on the Beardsley Campus. Over the years, the tenant has continually demonstrated its commitment to the Property by investing over $10 million in capital improvements since 2009 and exercising a five-year renewal option in 2012, two years prior to the initial lease expiration.

Additional Property Information

The Property operates on virtually a 24/7 basis across two separate employee shifts and features robust back-up power generation systems that ensure 100% up-time. The Property is the centerpiece of the self-contained American Express Beardsley Campus and features a cafeteria, fitness center and open-air amphitheater. There are 1,840 surface parking spaces which provide an over-market parking ratio of 5.5 stalls per 1,000 square feet, a ratio that is difficult to replicate given the ‘in-fill’ nature of the immediate submarket.

American Express | Service Center Phoenix

Phoenix, Arizona

PROPERTY AT A GLANCE

Property Type: Office
Square Footage: 337,439

Leased: 100%
Lease Expiration: December 31, 2019
Renewal Option(s):
Five 5-year options
Rent Increase(s):
5% increase every 5 years
Tenant: American Express Travel Related Services Co., Inc.
Website* (Parent): www.americanexpress.com
NYSE* (Parent): AXP

*Stock ticker symbol and website are for American Express Company, the Parent Company of the lessee.