Tag Archives: wentworth

Rendering courtesy of Gensler

Wentworth Property, Northwood Investors to redevelop 234KSF office

Wentworth Property Company (WPC) and Northwood Investors purchased a ±234,446 square foot office project at 1665 W. Alameda Drive. The partners had the vision to see the unique potential in the property and purchased it for $13.83M with plans to spend $20 to $25 million on redeveloping the project. They selected Gensler as the architect, Kennedy Design Build, LLC as the general contractor and Cassidy Turley as the leasing agent.

The Cassidy Turley team of Executive Managing Directors Jeff Wentworth and Mike Beall and Vice Presidents Sean Spellman and Chris Walker represented WPC during the property purchase from FNB Fountainhead, LLC.

“This property was the perfect vehicle for us to come in and reimagine it as an open, creative office environment where we can create an interconnection between indoor and outdoor environments,” said Jim Wentworth, Jr., Principal. “Even the most conservative companies want this type of office space because they understand how the work environment plays a major role in attracting and retaining employees, productivity and synergy within their company.”

The team plans to start the redevelopment of the 1665 Alameda project this year with availability by mid-2015. “There is enormous demand in this submarket for unique office space for large tenants,” said Cassidy Turley’s Jeff Wentworth. “This property gives us the opportunity to deliver innovative, flexible office space perfectly designed to function for tenants from 30,000 to 235,000 square feet.  It provides 16 to 20’ ceiling heights, 7/1,000 SF parking and because of the connection between the indoor and outdoor spaces there is the opportunity for functional space not under roof.”

The single-story existing 1665 Alameda building was constructed in 1986 and has been used by multiple tenants until the recent purchase of the property. The challenge was to significantly transform the building image and regain its stature as a viable Class A office environment. WPC and the Gensler design team saw the opportunity to transform the site and building to develop an amenity–rich, creative workplace environment that embraces its freeway location with direct visibility from I-10.

“Renovating existing building assets is an exercise in sustainability allowing us to extend their life and usage.” says Beth Harmon-Vaughan, Managing Principal of Gensler’s local Phoenix office. “The 1665 project is in a great location and provided a strong foundation for impactful design upgrades.”

Specific concept strategies focused on heightening the building image, creating a unified appearance, developing personalized entry elements for tenants, adding shared amenities to the site, enhancing daylighting opportunities, and creating indoor/outdoor connections. The existing U-shaped footprint allowed for a functional courtyard space in-between the building volume to connect the interior with the exterior and create usable year-round spaces. The existing mansard roof and visually low façade will be eliminated and a new façade proposed.

Architectural entry elements create a new frontal projection to the street, a fluid architectural language and significant visual markers for branding and tenant signage. Proposed building materials include integral colored cementitious panels, aluminum composite naturally finished metal panels, steel and glass elements, and textural gabion wall features integrating the new façade with the courtyard concept in a seamless fashion. New building amenities include bocce ball, café dining, fitness center, outdoor shaded seating, water features, and a unique rain garden concept that uses sustainable and indigenous landscape.

“Creating a fresh identity and amenity-rich creative office environment in Tempe will help ensure attraction and retention of top tenants in the market.” says Harmon-Vaughan.

WPC partnered with Northwood Investors and purchased Discovery Business Campus (DBC) in November 2011. DPC is a 136 acre campus with 800,000 square feet of existing office space and up to 1.6 million square feet of additional, entitled Class A office, hotel and retail development in Tempe. WPC is currently developing a 237,000 square foot build-to-suit facility for Shutterfly, Inc. at DBC, slated for completion in April 2015.

Oblique & Renderings of Airport I-10-1

Groundbreaking Arrives for Phase I of Airport I-10 Business Park

Groundbreaking day has arrived for the first phase of Airport I-10—a Wentworth Property Company/Clarion Partners Class-A industrial project being leased by the Phoenix office of JLL that, at completion, will represent one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix history.
Located at the northwest corner of 24th Street and Rio Salado, Phase I of Airport I-10 Business Park includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet). Phase I of the project is slated for completion in the fall of 2014. At build out, the 58-acre site will comprise five Class A industrial buildings totalling 920,584 square feet.
“This is the last large, developable parcel left in the Sky Harbor International Airport submarket—an area that consistently ranks among the Valley’s top industrial locations,” said Wentworth Property Company Principal James R. Wentworth. “Airport I-10 is already garnering great interest. With Phoenix’s continued population and job growth, we expect this demand to do nothing but rise in the years ahead.”
According to JLL research, the Sky Harbor Airport submarket absorbed approximately 1 million square feet of industrial space last year—almost 30 percent of the more than 3.5 million total square feet of industrial space absorbed Valley-wide in 2013.
Airport I-10 will offer a modern environment for corporate users and will be fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.
“About 90 percent of the buildings in the airport submarket were built before 2000 and lack the modern features that today’s users are looking for,” said JLL Executive Vice President Pat Harlan, who serves as an exclusive leasing broker for the project along with JLL Executive Vice President Steve Sayre, JLL Associate Kyle Westfall and JLL Managing Director Mark Detmer. “Airport I-10 delivers those benefits at a central location—a site that is truly at ‘main-and-main’ for industrial real estate.”
“Users are looking for space in the 50,000- to 300,000-square-foot range and there simply isn’t the product to accommodate that demand,” said Harlan.

Aerial view of site of new industrial park.

Wentworth Property and Clarion Partners Planning To Build 900,000 SF Industrial Park In Phoenix

 

A venture formed by Wentworth Property Co. in Phoenix (principals James Wentworth Sr. and James Wentworth Jr.) and Clarion Partners in New York is planning a $60M, 900,000 SF Class A industrial park consisting of rear-load and cross-dock buildings ranging from 140,000 SF to 280,000 SF.

The venture recently acquired a 59.48-acre parcel for $9.3M in the Phoenix Sky Harbor International Airport submarket of Phoenix, representing the last large-scale developable parcel in the area. The property is located at the NWC of 24th St. and the Rio Salado.

Site work begins this summer for three speculative buildings totaling approximately 600,000 SF with vertical construction commencing this fall. The site is zoned A-2.

“The Sky Harbor area is one of the most sought-after yet most land constrained industrial markets in Greater Phoenix,” said Wentworth principal James Wentworth Jr. “This new development will benefit significantly from the limited supply and open new opportunities for businesses needing a central location and close proximity to the airport.”

“We’re excited to partner with Wentworth on this high profile, in-fill development site. We believe the project can act as a catalyst for business and job growth in the city of Phoenix,” said Dayton Conklin, senior vice president at Clarion Partners. “The Phoenix industrial market continues to be an area of focus for Clarion Partners and we are pleased to be expanding our presence with this unique opportunity.”

The seller was Behringer Harvard of Dallas. Allen Lowe and Jeff Conrad of Lee & Associates of Arizona Inc. in Phoenix brokered the sale.