KDC, a leading developer of corporate build-to-suit developments for major companies such as State Farm and Toyota, today announced a joint venture with national construction firm The Weitz Company to develop Tempe Waterfront.
KDC will develop the Class A build-to-suit project and Weitz will serve as the general contractor for up to 400,000 square feet of office space. Smith Group JJR will be the project architect.
“KDC believes now is the perfect time to bring this prime office space to the Tempe market, which is surrounded by the lively college campus at Arizona State University and the Novus Innovation Corridor,” said Peter Yates, KDC Phoenix market director. “The site is surrounded by a strong amenity base with easy access to State Loop 202 via McClintock. The vibrant surroundings, quality of talented labor and the investment ASU is making here, is very attractive to corporate users.”
Tempe Waterfront is located on the waterfront at E. Rio Salado Parkway and Vista Del Lago Drive, next to the Arizona State University campus and just east of the new State Farm Campus. The site offers all of the immediate amenities of Tempe but provides access outlets to avoid the city’s heavy traffic.
“Weitz is proud to align our investment with KDC and support bringing a marquis corporate user to the Valley,” said Kimberly Davids, general manager at The Weitz Company. “Together, we understand how significant the development will be in bringing more business and economic growth opportunities to this thriving area of Tempe.”
Existing amenities on-site include casual to fine dining restaurants, retail and access to Metro Valley and the Tempe Town Lake trails. The master plan for the adjacent sites includes a walkable environment with a hotel, multifamily and retail along Rio Salado.