TEMPE, Ariz. (March 20, 2012) Ryan Companies US, Inc. announced today that it will begin leasing and build the third office tower at Hayden Ferry Lakeside.
Ryan will develop the 10-story, 250,000 square foot, Class A office tower at the corner of Mill and Rio Salado Parkway. DAVIS designed the building in 2007, and has made several design enhancements to this gateway building.
“This upgraded, clean, slightly more contemporary design is the appropriate design to complete the project and leave it looking forward, well into the 21st century” said Mike Davis, President of Davis Design.
The land is currently owned by an entity affiliated with Sunbelt Holdings, which acquired the property from SunCor in 2010. The Sunbelt entity will sell the land to Ryan for the tower.
This building is the first high rise to be break ground in downtown Tempe since 2007. The timing of this building could not be better. Much of the office space in downtown Tempe is now leased, leaving few space options for large companies to locate.
John Graham of Sunbelt Holdings said, “We are pleased to partner with Ryan Companies on the next office tower at Hayden Ferry Lakeside. We believe the more than 900 jobs that will eventually be located there will serve to enhance demand for additional residential and commercial development on and around Tempe Town Lake.”
Hayden Ferry Lakeside was conceived in 1999 by SunCor Development as a Town Lake’s first development. The project consisted of three office towers and four residential properties. During the last 13 years, SunCor completed two of the planned office towers and two condominium towers.
“Hayden Ferry Lakeside was the first mixed-use development in downtown Tempe and the first development to build here at Town Lake. It’s appropriate that once again, the development once again leads the high rise construction industry,” Tempe Mayor Hugh Hallman said. “We thank Sunbelt Holdings and Ryan Companies for their investment in our community and their commitment to Tempe Town Lake.”
The future Phase III office building serves as a gateway piece of the development. The building design maintains the same boat-shaped, nautical theme as its predecessors. It is upgraded with a clean and slightly more contemporary expression that compliments the existing office buildings.
Building finishes will incorporate the notable cobalt blue glass, aluminum panels and horizontal mullion expression of the window system. The landscape and hardscape materials will be consistent with what has already been established previously with the metaphoric stream, blue paving, completing the design as originally conceived.
"Staying ahead of the upcoming demand, Ryan recognizes the need for additional Class A office space in Tempe. With Tempe's strong and plentiful workforce and the location of Hayden Ferry Lakeside, developing and constructing a third tower will provide an excellent home for companies looking to relocate to Tempe," said John Strittmatter, President of Ryan Companies US, Inc.'s Southwest.
About Ryan Companies US, Inc.
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. Ryan Companies has offices in Minneapolis, Chicago, San Diego, Tampa, Cedar Rapids, Des Moines, and Phoenix. Since formally opening its Southwest regional office in Phoenix in 1994, Ryan Companies has been responsible for constructing projects totaling more than 17 million square feet in the greater Phoenix area. www.ryancompanies.com.
About Sunbelt Holdings
Sunbelt Holdings is a real estate management, investment and development company dedicated to creating real estate projects that give back, both to its investors and the community. Headquartered in Scottsdale, its efforts are concentrated primarily in Arizona. The firm, which has also developed projects in California, Texas and Georgia, celebrated its 30th anniversary in 2009. www.sunbeltholdings.com
About Tempe, Arizona
Tempe, Arizona is home to Arizona State University, historic Mill Avenue, and Tempe Town Lake. It’s the urban heart of the Greater Phoenix Metropolitan Area, with a population of 161,000, a workforce of 151,000, approximately 200,000 college students and 4 million visitors annually. A smart city, Tempe boasts one of the highest education rates in the state, with nearly 40 percent of the population older than 25 holding a Bachelor’s degree or better.