Liberty Property Trust will break ground this week on its second building at its new park, Liberty Center at Rio Salado in Tempe. Located at 1910 W. Rio Salado Parkway, Building Two will be a two-story, 156,030 square foot Class A office building. The project is designed to achieve LEED® Silver certification and the total investment is approximately $33 million.
“Leasing interest in Liberty Center at Rio Salado remains high, and we are excited to continue that momentum with this new building,” said John DiVall, senior vice president at Liberty Property Trust. “Beginning construction of Building Two on the heels of Building One (currently under development) will allow us to meet anticipated demand by delivering more Class A office space with structured parking at the right time in the market. Additionally, we will also be completing the park’s infrastructure and common area amenities.”
Last quarter, Liberty announced that it had signed a lease for the 76,162 square foot first floor of Building One. The second floor of 78,000 square feet remains available for lease.
In total the park will offer more than one million square feet of office, industrial and flex space. Buildings One and Two are part of Phase I, which when complete will include seven office and one industrial building. Phase II, which will be located across Priest Drive, is slated to include a hotel, retail and additional office buildings.
The architect for building two is RSP Architects, the general contractor is Westpac Construction, and the civil engineer is Wood/Patel.
In 2012, Liberty Property Trust was selected by the City of Tempe as the developer for the 100 acre site located at Priest Road and Rio Salado Parkway. Liberty Center at Rio Salado is centrally located in the heart of the Phoenix Metropolitan Area, offers unparalleled visibility from Arizona Route 143 and Red Mountain Loop 202, and is within minutes of Sky Harbor International Airport and Arizona State University. The location is less than five miles from the company’s fully leased 1.2 million square foot business park Liberty Cotton Center.