Tag Archives: Luke Walker

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.

rsz_mccormickplace

CBRE, Az Commercial Advisors Help Scottsdale Healthcare Secure New HQ

 

McCormick Place, a vacant, 74,474 SF, 3-story office building at 8125 N. Hayden Road in Scottsdale, sold for $14.95M in a deal handled by CBRE.

Scottsdale Healthcare Corporation, a nonprofit health system, has acquired the building, which will become its new corporate headquarters.

Luke Walker and David Carder of CBRE’s Phoenix office, along with Patti Gentry of Arizona Commercial Advisors of Scottsdale, represented the buyer in the acquisition. The seller, a real estate investment company based in northern California, was represented by Jerry Noble, Pat Devine and Greg Mayer, also in CBRE’s Phoenix office.

“Scottsdale Healthcare was seeking a centralized location for its corporate office in order to maximize resources and better support each of its hospital campuses,” Walker said. “McCormick Place will provide it with the necessary space to relocate its corporate and other business office functions, while creating flexibility for future enhanced patient services on its Osborn campus.”

Gentry added: “From a business perspective this location will strengthen Scottsdale Healthcare’s footprint in the City of Scottsdale by establishing a major corporate headquarters in the center of the city, and the timing of this transaction will allow the company to benefit from a cost perspective as well.”

Until 2008, the building served as the corporate headquarters for Medicis Pharmaceutical Corporation. It is located on the NEC of Hayden Rd. and Via de Ventura, central to all three Scottsdale Healthcare hospital campuses. The property is also less than one mile from the Loop 101 and in proximity to numerous upscale retail amenities, including the Villages on Hayden and The Shops at Gainey Village.

Also included in the sale was an adjacent, free-standing, covered parking garage.

Scottsdale Healthcare plans to move into its new corporate headquarters in 2013.