Ryan Companies US, Inc., will build and begin leasing the third office tower at Hayden Ferry Lakeside in Tempe, it was announced at a morning press conference near the site of the new project. DAVIS will handle architectural duties.
Ryan Companies will develop the 10-story, 250,000 SF, Class A office tower at the corner of Mill and Rio Salado Parkway. DAVIS designed the building in 2007 and has made several design enhancements to this gateway building. Officials expect the project to break ground in 4Q 2012.
“This upgraded, clean, slightly more contemporary design is the appropriate design to complete the project and leave it looking forward, well into the 21st century” said Mike Davis, founder and director of Design at DAVIS.
The land is owned by an entity affiliated with Sunbelt Holdings, which acquired the property from SunCor in 2010. The Sunbelt entity will sell the land to Ryan for the tower.
The building is the first commercial high rise to break ground in downtown Tempe since 2007. The timing of this building could not be better. Much of the office space in downtown Tempe is now leased, leaving fewer space options for large companies to locate.
“We are pleased to partner with Ryan Companies on the next office tower at Hayden Ferry Lakeside,” said John Graham of Sunbelt Holdings. “We believe the more than 900 jobs that will eventually be located there will serve to enhance demand for additional residential and commercial development on and around Tempe Town Lake.”
Hayden Ferry Lakeside was conceived in 1999 by SunCor Development as Town Lake’s first development. The project consisted of three office towers and four residential properties. During the past 13 years, SunCor completed two of the planned office towers and two condominium towers.
“Hayden Ferry Lakeside was the first mixed-use development in downtown Tempe and the first development to build here at Town Lake. It’s appropriate that once again, the development once again leads the high rise construction industry,” Tempe Mayor Hugh Hallman said. “We thank Sunbelt Holdings and Ryan Companies for their investment in our community and their commitment to Tempe Town Lake.”
The future Phase III office building serves as a gateway piece of the development. The building design maintains the same boat-shaped, nautical theme as its predecessors. It is upgraded with a clean and slightly more contemporary expression that compliments the existing office buildings.
Building finishes will incorporate the notable cobalt blue glass, aluminum panels and horizontal mullion expression of the window system. The landscape and hardscape materials will be consistent with what has already been established previously with the metaphoric stream, blue paving, completing the design as originally conceived.
“Staying ahead of the upcoming demand, Ryan recognizes the need for additional Class A office space in Tempe. With Tempe’s strong and plentiful workforce and the location of Hayden Ferry Lakeside, developing and constructing a third tower will provide an excellent home for companies looking to relocate to Tempe,” said John Strittmatter, president of Ryan Companies US, Inc. Southwest.
CBRE will be the brokerage firm, officials said.