North Phoenix Desert Ridge Development Continues to Expand
PHOENIX (July 10, 2007) – Ryan Companies US, Inc., one of the Valley’s largest developers of commercial and office projects, is beginning development of the 3rd phase of Desert Ridge Corporate Center – one of the largest office parks in the rapidly growing north Phoenix area.
Ryan Companies is taking a 4-phase approach to developing the ambitious 42-acre park at the 101 Freeway and North Tatum Boulevard. The property utilizes an Arizona state land ground lease and already boasts a 5,000 square foot U.S. Bank branch, two 60,000 square foot medical office buildings, two 136,000 square foot corporate office buildings and two parking garages constructed during the first two phases of development. Phase III will add an additional 4-story 136,000 square foot Class A multi-tenant corporate office building and parking structure, along with an 18,000 square foot retail center to serve the park and the surrounding Desert Ridge neighborhood.
Ryan Companies is coordinating the Desert Ridge Corporate Center development from start to finish, including project financing, design, construction and property management. They have seen demand for space in this area skyrocket since first breaking ground on the project in 2005.
“This is definitely a high-growth location that is attractive to corporate tenants,” says Todd Holzer of Ryan Companies US Inc. “It’s easily accessed from Loop 101 and State Route 51, and it sits in a convenient destination location with great access to retail and dining amenities.”
The newest addition to the park, designed by DFD CornoyerHedrick, will feature high-end exterior materials and earth-friendly accommodations for water and energy conservation. Corporate Center Phase III is slated for completion in 2008 and is brokered by Bill Blake and Craig Coppola of Lee & Associates.
Ryan Companies US, Inc. is a leading national commercial real estate firm offering integrated construction and development as well as asset, property and facilities management services to customers. In addition to its Phoenix office, Ryan has offices in Minneapolis, Chicago, San Diego, Tampa, Cedar Rapids and Des Moines, Iowa. Since formally opening a Southwest regional office in Phoenix in 1994, Ryan has been responsible for constructing projects totaling more than 12 million square feet in the greater Phoenix area for premier companies such as Allied Signal (now Honeywell), Motorola, Phelps Dodge, Wells Fargo Bank, Dial Corporation, ConocoPhillips, Sears, Phoenix Newspapers, Del Webb, Avnet, Mayo Clinic and Target.