Waypoint office campus hits 98% occupancy

Real Estate | 9 May |

A string of major leases by national credit tenants has pushed the Harvard Investments / Lincoln Property Company (LPC) Waypoint office development to 98 percent leased. The new commitments leave just under 11,000 square feet of space remaining at Waypoint, a four-building, almost one-half-million-square-foot Class A campus situated in the heart of the rapidly developing mixed-use Riverview District in Mesa, Arizona. 

The project’s newest lease comes via a 15,000-square-foot commitment by national homebuilder Beazer Homes for Waypoint Four. Beazer will use the new space for a division headquarters and design center. They are scheduled to begin occupancy at Waypoint in the fall of 2019. 

Fortune 500 digital technology company Cognizant, who moved into 50,693 square feet at Waypoint Four in mid-2018, has also doubled its presence at the building, expanding to take the entire second and third floors with a total 101,072 total-square-foot lease. 

“We’re excited that Beazer Homes and Cognizant have identified Waypoint as the right location for their growing organizations,” said Lincoln Property Company Vice President of Real Estate Development John Orsak. “Both companies compliment the project’s already strong credit tenant roster, and both will be able to fully capitalize on not only the corporate environment at Waypoint but also the impressive – and expanding – assemblage of retail, dining, hospitality and recreational amenities within the Riverview District,” 

Fronting the Loop 202 freeway at the borders of Mesa, Tempe and Scottsdale, Waypoint totals 425,861 square feet in four buildings featuring a high-tech modern aesthetic, multi-story lobbies and creative workspaces. Buildings Three and Four, in particular, offer 14-foot open ceilings and glass windows that begin at floor level and extend 10 feet high. Other features include shared amenity areas and outdoor collaborative spaces. 

“Waypoint’s creative office layout allows companies to use their space in the way that best fits their organization,” said Harvard Investments President and CEO Craig Krumwiede. “That has helped us to attract a dynamic mix of corporate and technology-driven companies, creating a very stable tenancy and a true legacy project.”

Waypoint One is already fully leased to tenants including Ashton Woods, Udall Shumway PLC and the corporate headquarters for Nextcare. Waypoint Buildings Two and Three are fully leased to Mitel and Verra Mobility (formerly American Traffic Solutions), respectively, through single-tenant, long-term leases.

The first floor at Waypoint Four is occupied by engineering consulting firm EPS Group, who relocated and expanded into 27,283 square feet at the project in late 2018. Building Four has a remaining 10,800 square feet on the first floor available for lease, offering an efficient layout with lobby presence and a generous glass line that maximizes natural light for interior workspaces.

Dave Carder and Scott Boardman at Cushman and Wakefield are the property’s exclusive leasing brokers. LPC manages all four Waypoint buildings, part of the firm’s almost 10 million-square-foot Phoenix property management portfolio.

The 35-acre Waypoint project sits adjacent to Riverview, which offers 1.3 million square feet of retail, restaurants, entertainment and the upscale Sheraton and Hyatt Place hotels. Also within Riverview are Riverview Lake and Sloan Park, home of the Chicago Cubs spring training facility. Waypoint is located just six miles east of Phoenix Sky Harbor International Airport and is minutes from Arizona State University. It provides convenient access to Loop 101 at Rio Salado Parkway, and the Loop 202 at Dobson and Alma School roads. 

Waypoint is also just minutes from the future site of Union, a 28.2-acre project being developed by Harvard and LPC along the Loop 202, just off of Dobson Road and Rio Salado Parkway. At build-out, Union will total 1.35 million square feet in four Class A buildings. Ranging from four to eight stories, buildings at Union will feature glass-heavy exteriors, large and open floorplates, high ceilings and rooftop amenity decks, all centered on a main pedestrian plaza with multiple water features, shaded gathering areas and outdoor rooms.

For more on Waypoint, visit the property website at www.waypointarizona.com. To discuss leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.

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