Liberty Center at Rio SaladoTempe, AZ
80-Acre Development Site
The project is an approximate 80-acre development site our team leased for the developer, a publicly traded REIT. We advised the client to move forward on a speculative basis on many of the buildings in the park. The original development timeline was a 10-year buildout, but we completed the lease-up in approximately 3 years. Total project size is 775,000 SF of office, including 2 build-to-suits and 2 corporate headquarters.
Missouri FallsPhoenix, AZ
190,419 SF Office Building
We assisted our client with the purchase of Missouri Falls through a court-appointed receivership sale. The building is located in an explosive growth area, but was neglected and needed upgrades, and was essentially vacant at the time. We advised ownership and their capital partner to build 50K SF of initial spec suites which were very successful, and lead to another 50K SF of spec suites being built. During lease-up, we drove rents from $19/SF to $26.50/SF, and after achieving 87% occupancy, we sold the building for $217/SF.
Canyon VillageScottsdale, AZ
100,000 SF Mixed-Use Class A Development
This project had a 70% vacancy rate at listing inception. We advised ownership to execute a spec suite program to key in on the right users for that market, and they built out suites from 1,000-3,000 SF. Combining aggressive leasing and strategic economic structuring, we leased the project to 90% in just 18 months.
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