Tag Archives: Eric Schultz

Harvard-LPC-Riverview, WEB

Harvard, LPC partner on final Riverview Point phase

Harvard Investments announced today that it will partner with Lincoln Property Company (LPC) to develop the second and final phase of Riverview Point, a Class-A office project directly adjacent to the 250-acre Mesa Riverview mixed-use property in Phoenix’s booming Southeast Valley.

Harvard Investments purchased the 19.55-acre land parcel for the new project from Montana Avenue Capital this week. In conjunction with LPC, Harvard Investments will build two new, Class A office buildings on the site: a three-story, 150,000-square-foot building and a two-story, 105,000-square-foot building. LPC will direct development of the project. It will also market the opportunity to build-to-suit prospects and anchor tenants.

“This project represents all of the things that make the Southeast Valley so exceptional–retail, dining, entertainment, and corporate environments, all linked by some of the state’s best educational assets and busiest transportation corridors,” said Harvard Investments President Craig Krumwiede. “These are key elements in an investment project, and they are what will make this property a strategic opportunity for companies looking for that next great address.”

“We’re operating within an area that continues to show—and grow—its ability to attract amenity-driven office tenants and make a positive, notable impact on greater Phoenix’s economic recovery,” said Lincoln Property Company’s Executive Vice President David Krumwiede. “This project will be no exception. Its timing and location are perfect for a development that will anchor this market for years to come.”

Dave Carder, Luke Walker and Eric Schultz, from the Phoenix office of CBRE, brokered the land transaction and will assist with the project’s marketing and leasing efforts. The Davis Experience serves as the project architect and Wespac Construction serves as the general contractor.

“We are very excited to work with Harvard and Lincoln on this new endeavor,” said Carder. “Momentum and demand for large blocks of Class A office space have returned to the office sector in force, and along with it great opportunity to create exceptional next-generation business environments.”

The new Harvard-LPC development is located on the borders of Mesa, Tempe and Scottsdale, just six miles east of Phoenix Sky Harbor International Airport and accessed via Loop 101 at Rio Salado Parkway and via two full-diamond interchanges along the Loop 202 at Dobson and Alma School roads. It is directly east of Mesa Riverview, a 1.3 million-square-foot retail, hospitality and entertainment complex. It is also less than one mile from the new Cubs Spring Training Facility and the newly reconfigured Riverview Park, which includes an innovative playground, six-acre lake and pedestrian path that connects the park and lake to the stadium.

When completed, the new Harvard-LPC office buildings will join an existing Hyatt Place Hotel, two existing, two-story office buildings that are approaching 90 percent occupancy, and a planned 180-room, luxury brand Sheraton Hotel scheduled to open in March 2015 and including amenities such as full-service restaurants, bars, swimming pool, fitness facility and more than 30,000 square feet of meeting and event space.

cemex

CEMEX Construction moves HQ to Phoenix

CBRE has completed a 17,134-square-foot office lease at 5555 E. Van Buren St. in Phoenix, Ariz. The lease marks a relocation of CEMEX Construction Materials’ regional headquarters within the Valley. The financial terms of the transaction were not disclosed.

Luke Walker, Dave Carder, Nate Goldfarb and Eric Schultz with CBRE’s Phoenix office negotiated the lease on behalf of the landlord, Abart Properties 5555 LLC of Scottsdale, Ariz. CEMEX was represented by Darius Green with Keyser Co.

Previously home to Phoenix-based Weitz Construction, CBRE was able to lease the space at 5555 E. Van Buren within three months of Weitz’s departure. CBRE’s Walker points to the property’s creative-office environment and the workplace-strategy trends corporate office users are embracing as major factors in his team’s ability to lease the space quickly.

“Demand for creative space has extended beyond the start-ups and tech centered industries and we are definitely seeing increased interest in this type of space from more traditional office users,” said Walker. “Really since late 2012 approximately 90 percent of tenant prospects that visit 5555 E. Van Buren are seeking workspaces that optimize efficiency, collaboration and creativity.”

Built in 2003, 5555 E. Van Buren is located at the southwest corner of 56th and Van Buren Streets and has spectacular views of Papago Buttes and Papago Golf Course. It features unique, contemporary architecture with stained concrete floors and an exposed ceiling grid. The two-story class A office building benefits from direct access to Loop 202 and proximity to hotel and restaurant options.