Just a month after the vacant Tempe Gateway office building was sold, a lease has been signed for the top two floors of the eight-story structure.
Tempe-based Limelight will move into the downtown building in early 2011, bringing life to a structure that stood idle for more than a year because its original developer went into bankruptcy.
The building is owned by Seattle-based Vulcan Real Estate, a venture of Microsoft co-founder Paul Allen. The recent transaction signals Tempe’s economy is rebounding and that companies find downtown desirable, said Robert Arron, Vulcan’s senior director of marketing and leasing.
“Our activity has been very solid,” Arron said. “We actively are talking to a number of tenant prospects.”
When Limelight moves in, the technology company will consolidate multiple Valley offices that employ 200 workers. The company chose the spot partially because of access to light rail and its being on a light-rail stop, Limelight marking vice president Paul Alfieri said.