Tag Archives: Riverview Point

project-news-update

Project News

Foundation for Blind Children

Foundation for Blind Children


➤ THE NEW SCHOOL
Kitchell, Haydon Building Corp. and SmithGroupJJR have broken ground on a new building for the Foundation for Blind Children’s Phoenix campus. The 36,600 SF single-story building will replace several outdated facilities planned for demolition. Its main campus will continue to serve adults who are visually impaired.


➤ WHERE THE ‘BELL’ TOLLS
The P.B. Bell Companies purchased 2,759 apartment units throughout the Phoenix Metro. The $168.5M, seven-property transaction was brokered by Colliers International of Greater Phoenix’s mother and son team of Cindy and Brad Cooke. P.B. Bell plans to perform cosmetic upgrades to the properties and will continue acquiring multifamily properties.


East Valley Culinary Dropout

East Valley Culinary Dropout


➤ SAM FOX STRIKES AGAIN
Fox Restaurant Concepts and development partner, Brian Frakes, plan to open the first East Valley Culinary Dropout location in October 2014 on First and Farmer avenues in Tempe, Ariz. The restaurant will be built in a warehouse constructed in the 1960s for Thorens Showcase and Fixtures. The 14,757 SF development is the first of many schedule projects meant to revamp the Farmers Arts District.


➤ SPEC-TACULAR GROWTH
Wentworth Property Company/Clarion Partners and the Phoenix office of JLL secured a 63KSF tenant lease commitment with Anixter International, Inc., at the Airport I-10 Business Park — one of the largest speculative industrial developments in Phoenix history.


Riverview Point

Riverview Point


➤ PHASING OUT
Harvard Investments has partnered with Lincoln Property Company to develop its second and final phase of Riverview Point, a Class-A office project adjacent to the 250-acre mixed-use Mesa Riverview property. The phase includes two Class-A office buildings, one is a three-story, 150KSF building. The other is a two-story, 105KSF building.


➤ DEVILS’ DETAILS
It was announced in early August that Arizona State University’s $162M renovation of Sun Devil Stadium will be designed by Gould Evans Associates and HNTB Corporation and constructed by the AECOM-acquired Hunt Construction Group and Sundt Construction.


West Valley Resort

West Valley Resort


➤ FAIR PLAY
After months of diligent negotiation, the Tohono O’odham Nation and the City of Glendale have finalized an agreement ensuring that the $400M West Valley Resort and casino project has the city’s full support. The nation will supply annual funding to Glendale over the next 20 years in excess of $26M. The construction team includes Hunt Construction Group, recently purchased by AECOM, PENTA Building Group, Rider Levett Bucknall and Summit Project Management.


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.