Tag Archives: ASU Scottsdale Innovation Center


Multiple-restaurant project coming to SkySong

Wetta Ventures, Arizona State University Foundation and SkySong, The ASU Scottsdale Innovation Center today will be joint in a partnership to develop a $5 million, multiple-restaurant building at the thriving Scottsdale project.

This announcement comes on the heels of Wetta Venture’s successful redevelopment and opening of the Annex (615 S. College) at ASU in Tempe, which is a public-private venture with ASU. Postino Winecafe and Snooze, an AM Eatery, both opened at the Annex last fall. In November of last year, Wetta Ventures made headlines with the development and sale of its adaptive reuse project, Old School O7, for a record price-per-square-foot. The company is now working on a high-profile retail and office project on the Camelback Corridor, CB20, in Phoenix.

Prominently located at the northeast corner of Scottsdale Road and SkySong Boulevard, the new 12,000 square foot development is expected to include three to four tenants, one of which will be a 4,500 square-foot, farm-to-table restaurant. A unique feature to the development will be a 3,000 square-foot garden that will be professionally installed and curated.

SkySong_Wetta VenturesExpected to break ground in January 2016, this will be the first and only restaurant project to service the 42-acre Innovation Center. Completion is slated for the second quarter of 2016. Wetta Ventures is currently seeking prospective restaurants looking to open in the fall of 2016. Brad Douglass and Ryan Leavitt of Cassidy Turley have been retained to manage the leasing.

“We are excited to partner with ASU Foundation, especially on such a high-profile project within SkySong,” said David Wetta, founder of Wetta Ventures. “We strive to deliver very special environments that create an experience for tenants and customers. SkySong is on the global stage where people and influencers will gather from all over the world. This project will reflect the vision, imagination and innovation of SkySong with subtle references to the history of this property. Our building will provide a significant experience that people will have upon arrival. There’s a lot of responsibility to make this a one-of-a-kind food and beverage destination that will reflect the uniqueness of the overall development.”

Michael Rumpeltin of Brick & West Design is leading the architectural design of the project. Modern in design, the new space will blend indoors and outdoors with expansive operable glass and will be designed to integrate the landscape and the building. The massive shaded outdoor space will be home to a combination of restaurant dining patios and public open space. Lushly landscaped, the space is protected from the sun during the warmest months of the year by a 45-foot cantilevered overhang that will be clad in translucent panel material and lit to provide the ambient lighting for the outdoor space. Brick & West is known for timeless design, immense creativity and designing some the Valley’s most-celebrated restaurants.

“We have seen first-hand at ASU the quality of work Wetta Ventures brings to the table,” said Don Couvillion, vice president of real estate for the ASU Foundation. “We are excited about the opportunity to create the same kind of quality facility at SkySong and enhance the mixed-use nature of the project.”

“We are very pleased to be able to work with Wetta Ventures and bring their expertise in creating exceptional restaurant environments to Scottsdale,” said Sharon Harper, president & CEO of Plaza Companies, the master developer of SkySong. “The innovative companies that call SkySong home and their employees deserve exceptional amenities, and these restaurants will enhance the overall spirit and energy of the project.”

SkySong III

Online advertising co-op signs lease at SkySong 3

An advertising innovator changing the way companies advertise online will set up shop at SkySong 3 early next year.

The company, adhesive.co, is relocating from east Indian School Road and will begin its five-year lease at SkySong on January 1, 2015. The layout of the space will be in line with the online ad company’s philosophy of a creative and collaborative environment.

The performance display online advertising company—where they like to say “the geeks are in charge”—helps drive incremental business for clients and is regarded as an industry leader with a fresh approach to online advertising. The adhesive team turns pages of code into advertising solutions for advertisers and publishers.

With the leasing agreement, adhesive.co’s presence at SkySong will help enhance its brand and a perfect fit for its collaborative environment.

“The innovative environment at SkySong will become even more dynamic with the addition of adhesive,” said Sharon Harper, President & CEO of Plaza Companies, the developer of the project. “They are online ad innovators and model collaborators who represent the best in entrepreneurial striving. We are thrilled they decided to come to SkySong, where their unique view of the world will be welcomed with open arms.”

Chad Little, one of the adhesive.co founders alongside Patrick Schwind, said: “Serial entrepreneurialism needs the right place to grow and prosper. Fortunately for Patrick and I, and our clients, we have found that place—SkySong. It’s the perfect fit for our approach, for who we are and for what adhesive is all about. We can’t wait to move in and meet our new neighbors and potential collaborators.”

The addition of adhesive.co is the latest addition to the growing SkySong project, which recently saw the completion of the SkySong Apartments and is nearing the completion of SkySong 3, the third office building at the property. With the adhesive.co lease, SkySong 3 is now at 88 percent leasing occupancy even before opening its doors. Leasing is currently ongoing for SkySong 4, the next office building at the project, with construction anticipated to begin by the end of 2014.

Mark Seale of Cassidy Turley was the leasing agent handling the transaction for adhesive.co. The Lee & Associates team of Craig Coppola, Andrew Cheney and Gregg Kafka represented the SkySong ownership group.

SkySong, the ASU Scottsdale Innovation Center is a home to a global business community that links technology, entrepreneurship, innovation, and education to position ASU and Greater Phoenix as global leaders of the knowledge economy.

SkySong is a 42-acre mixed use development designed to:

• Create an ecology of collaboration and innovation among high-profile technology enterprises and related researchers;
• Advance global business objectives of on-site enterprises;
• Raise Arizona’s profile as a global center of innovation through co-location of ASU’s strategic global partners; and
• Create a unique regional economic and social asset.

Companies located at SkySong enjoy a special relationship with Arizona State University, which has more than 73,000 students at four metropolitan Phoenix campuses. Its campus in Tempe is the single largest campus in the U.S., and is located less than three miles from SkySong.

In addition to locating its own innovative research units at the center, ASU provides tenants with direct access to relevant research, educational opportunities and cultural events on its campuses. Through ASU’s on-site operations, tenant companies have a single point of contact for introductions to researchers, faculty and programs to address their specific needs.

SkySong 3 Progress, WEB

Theranos leases 20KSF at SkySong 3

A major consumer healthcare innovator shaping the future of lab testing will plant a significant flag at SkySong, the ASU Scottsdale Innovation Center.

Theranos, based in Palo Alto, Calif., has leased a 20,000-square-foot wing at SkySong 3, making it one of the largest tenants in the entire SkySong project. Beating all expectations, SkySong 3 is now over 80% leased as it nears its opening later this summer.

The move by Theranos means hundreds of jobs will be created at SkySong in the short term, with that figure increasing significantly as the company continues to grow.

Founded in 2003 by Elizabeth Holmes, Theranos is working to shape the future of lab testing and the way health information is collected, analyzed, and communicated. Theranos, in the words of one media outlet, “could turn the diagnostics industry upside down” and has the potential to save Arizona taxpayers $1.3 billion dollars over the next decade. Their service provides Phoenix-area consumers with convenient access to less invasive and more affordable clinician-directed lab testing from blood samples as small as a few drops collected from a tiny finger stick. Theranos has a national partnership with Walgreens and has been rolling out its Wellness Centers inside Walgreens stores across the U.S., including 25 locations and counting in central Arizona.

With its SkySong agreement, Theranos is expanding its footprint in the Valley. The company currently has an office in Kierland, and its signature presence at SkySong is the perfect fit for its rapidly growing entrepreneurial endeavor. CBRE acted as the company’s commercial real estate agent.

Sunny Balwani, President & COO of Theranos, said the company was drawn to SkySong because of its growing reputation as a center of innovation and technology.

“The Phoenix-area community’s reception to our company has been excellent,” Balwani said. “Our commitment to innovation will create hundreds of new jobs and positively impact Arizona over the coming months and years. The SkySong center is an ideal fit for our company, and we are excited to be a part of the project.”

Sharon Harper, President & CEO of Plaza Companies, the master developer of the project, said that Theranos is exactly the kind of company that will not only grow and thrive at SkySong, but will further the project’s mission as a home to innovation and entrepreneurship.

“You really could not ask for a better match in terms of innovative culture,” Harper said. “Elizabeth Holmes is the epitome of the word “entrepreneur”. She has a true passion to change the way laboratory testing is done and could change the way we detect and treat disease. We are thrilled to have Theranos become part of the SkySong family and we know that they will feel right at home in our innovative setting.”

With SkySong 3 approaching full occupancy, leasing is now well underway for SkySong 4.  The four-story, 150,000 SF building which will front Scottsdale Road south of SkySong Boulevard, is scheduled to break ground in late 2014.  Along with SkySong 3 and 4, the SkySong development team is now leasing a planned 10,500 square foot retail building to be built on the northeast corner of Scottsdale Road and SkySong Boulevard. It’s part of the overall mixed-use vision for SkySong, which will include 1.2 million square feet of development when completed.

SkySong, the ASU Scottsdale Innovation Center is a home to a global business community that links technology, entrepreneurship, innovation, and education to position ASU and Greater Phoenix as global leaders of the knowledge economy.

SkySong is a 42-acre mixed use development designed to:

• Create an ecology of collaboration and innovation among high-profile technology enterprises and related researchers;
• Advance global business objectives of on-site enterprises;
• Raise Arizona’s profile as a global center of innovation through co-location of ASU’s strategic global partners; and
• Create a unique regional economic and social asset.

Companies located at SkySong enjoy a special relationship with Arizona State University, which has more than 73,000 students at four metropolitan Phoenix campuses. Its campus in Tempe is the single largest campus in the U.S., and is located less than three miles from SkySong.

In addition to locating its own innovative research units at the center, ASU provides tenants with direct access to relevant research, educational opportunities and cultural events on its campuses. Through ASU’s on-site operations, tenant companies have a single point of contact for introductions to researchers, faculty and programs to address their specific needs.

SkySong - Residential

Construction Set To Begin On SkySong Residential

SkySong, the ASU Scottsdale Innovation Center, is taking the next major step forward toward its eventual buildout, as construction is set to begin on 325 residential units.

The $44M project will mark the next major phase of the project, and will include the first residential units in the mixed-use project. The apartments will be built around the existing parking structure on the southeast portion of the project.

Construction will be done in four phases, with the first 83 units scheduled to open for occupancy in October 2013. All 325 units are scheduled to be built out by April 2014.

The apartments will feature innovative, modern architecture and a variety of floor plans to attract professionals who are employed in the area, as well as those who work on the SkySong campus. It will feature loft designs with private patios or balconies, granite and local stone accents, a large pool and Jacuzzi, an on-site exercise room and many other state-of-the-art features.

MT Builders is the construction firm responsible for the project buildout, and Lincoln Property Company has been selected as the property management firm for the project.

Don Couvillion, Vice President of Real Estate for the ASU Foundation, said the apartments will be highly competitive in the marketplace and serve a key need in the area around SkySong.

“We’re very excited to get this project under construction because we believe it has the potential to be highly successful,” Couvillion said. “The kind of high-quality residential component we are planning will meet a key market niche in the area and provide new residential opportunities for those wanting to live in this dynamic part of the Valley.”

Sharon Harper, President & CEO of Plaza Companies, said the residential component is a key part of making the SkySong vision a reality.

“SkySong has always been planned as a mixed-use development that provides an exceptional environment for living and working,” Harper said. “With this residential project underway, we are getting closer than ever to our goal of truly revitalizing this property and making SkySong an ideal destination for the kind of jobs and industries that will have a positive economic impact on our community.”

Plaza Companies is the master developer of the project, and although they are not directly participating in the construction of the apartments, other efforts on the site are underway as well. Plaza is developing the project in partnership with the Arizona State University Foundation and USAA Real Estate Company.

Work also continues on pre-leasing SkySong III and SkySong IV, the next two office towers to be built at the project. The two buildings would include approximately 300,000 SF of new development, and combined with SkySong I and II and the apartments, would bring the total square footage of development at SkySong to approximately 750,000 square feet.

SkySong, the ASU Scottsdale Innovation Center is a home to a global business community that links technology, entrepreneurship, innovation, and education to position ASU and Greater Phoenix as global leaders of the knowledge economy.

For more information on SkySong, visit www.skysongcenter.com.