The NAIOP bus tour is kicking back into gear this fall with plans to roll through the largest hub for Valley development — downtown Tempe. Tour trollies will cycle through stops at Marina Heights, Hayden Ferry Lakeside and Liberty Center at Rio Salado, where participants may network and meet the sites’ respective developers.
“The biggest catalyst to starting the bus tour concept again is the number of exciting projects that are underway,” says Parkway Properties Vice President and Managing Director Matt Mooney.
“Everyone in our industry experienced the challenges of the Great Recession, so to now have the Valley, and specifically Tempe, exemplifying such strong development in certain segments is worth seeing. Also, many of the major developments underway in Tempe are NAIOP member projects and this bus tour is a great opportunity to showcase the development prowess and expertise of NAIOP’s leading development firms.”
It’s also a way for members and non-members to meet with the developers of the respective projects.
“We wanted to feature Tempe as it is one of the strongest performing submarkets across all of the western United States, and these projects were chosen specifically because of their proximity and size,” says Mooney. “Marina Heights is the largest office development in Arizona history, Liberty Center is already two buildings into what will ultimately be a mixed-use park of more than 1MSF, and Hayden Ferry III is the first mid-high rise multi-tenant office building in this cycle.”
NAIOP’s end goal, Mooney says, is to give members insight into how and why the projects on the tour came together, what they will be and the trends to which they speak.
Where: Tempe Center for the Arts
When: Thursday, Oct. 23, 2014
Tickets: $50 for members, $100 for non-members (includes cocktails and hors d’oeuvres)
Stop 1: Hayden Ferry Lakeside III
Developer: Parkway Properties General Contractor: Ryan Companies US, Inc.
Location: Tempe, Ariz.
Size: 311,505 SF (including parking garage)
Brokerage Firm: CBRE
Value: $42 million
Start/Completion: April 2014 to September 2015
Subcontractors: CECO Concrete, Kovach Building Enclosures, Kearney Electric, Comfort Systems, W.J. Maloney Plumbing
Hayden Ferry Lakeside was the first major development along Tempe Town Lake and precipitated other, more recent developments such as Marina Heights, the new home of State Farm. The boat-shaped, nautical-themed Hayden Ferry Lakeside buildings I and II were completed in 2002 and 2007, respectively. The last phase of the three-building project, HFL III, broke ground in May 2014. It is a 267KSF, 10-story, Class-A office building with one level of below grade parking that ties into an existing parking garage.
Stop 2: Liberty Center at Rio Salado
Developer: Liberty Property Trust
General Contractor: Wespac Construction
Architect: RSP Architects
Location: 1850 W. Rio Salado Parkway, Tempe, Ariz.
Size: 155,000 SF
Brokerage Firm: CBRE
Start/Completion: December 2013 to September 2015
Subcontractors: Quality Building Maintenance, Speedie & Associates, Hunter Engineering, Arizona Traffic Signal, Buesing Corp., Gunsight Construction, Mister Bugman, Torrent Resources, Desert Services, JJ Sprague of Arizona, The Landscape Broker, Suntec Concrete, Coreslab Structures, Re-Create Companies, Bernies Brass, S&H Steel, E2 Innovations, Fine Line Cabinetry, Rite-Way Thermal, Diversified Roofing, AK&J Sealants, Walters & Wolf, American Direct, Demers Glass, Stucco Renovations of Arizona, Adobe Drywall, Berg Drywall, Wholesale Floors, Adobe Paint, Ganado Painting & Wallcovering, Trademark Visual, Partitions & Accessories, Thyssen Krupp Elevators, Ryan Mechanical, RCI Systems, Alpine Mechanical, DP Electric, Simplex Grinnell, Arizona Control Specialist, Cookson Door Sales, U.S. Mobile Communications, Norcon Industries, Standard Restaurant Equipment, Mountain States Drapery
At full build-out, Liberty Center at Rio Salado is a 1MSF mixed-use project at the northwest corner of Rio Salado Parkway and Priest Drive. The 100-acre property will focus on high-performance buildings with a sustainable design built to achieve LEED Silver certification. Designed to accommodate the businesses of today, the project features a 6/1,000 parking ratio and is just minutes from the downtown Tempe entertainment district and Sky Harbor Airport.
Stop 3: Marina Heights
Developer: Sunbelt Holdings / Ryan Companies US, Inc.
General Contractor: Ryan Companies US, Inc.
Location: Tempe, Ariz.
Size: 2,095,000 GSF
Brokerage Firm: Phoenix Commercial Advisors (Retail)
Value: $600 million
Start/Completion: 2013 to est. 2017
Subcontractors: Buesing, Suntec Concrete, Walters & Wolf, Delta Diversified, Harder Mechanical, HACI, Sun Valley Masonry, Brothers Masonry, Sturgeon Electric, Jencco, Kovach, Otis Elevator, Olympic West, Aero Automatic, Alliance Fire Protection, Berg Drywall, Adobe Drywall, Custom Roofing, Progressive Roofing, Red Pont, Speedie, CTS, Meade Engineering, Kraemer Consultants, EME, Design Element
This project is the new hub office campus of State Farm, a Midwestern insurance company. The LEED Silver design concept covers an area of approximately 20 acres and includes five office towers of varying heights; three to four stand-alone retail buildings; and two below grade parking garage levels.
Approximately 40KSF of retail amenities will complement the transit-oriented development and include food service, coffee shops, restaurants, business services and fitness facilities.
The site will also feature a 10-acre lakeside plaza, which will be open to the public. The total project will consist of approximately 2,040,000 gross square feet of office and retail space and 8,600 parking spaces.