PHOENIX—Construction and conversion has begun for The CircuitTempe, a 190,000-square-foot ultra-modern, high density, class Aoffice project at 615 S. River Dr. in Tempe. Formerly anindustrial manufacturing facility for Jabil Circuit, the sizablebuilding has been dramatically re-designed to serve as the Valley'sfirst speculative large-scale, millennial focused officeproperty. Jerry Noble, PatDevine, Jackie Orcutt and RyanBartos of Cushman & Wakefield ofArizona serve as exclusive leasing agents for The CircuitTempe.

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Situated on the Loop 101 and University Drive, the 16.5-acreproperty rests in the heart of a booming Tempe office market. The Southeast Valley has recently attracted substantial interestfrom tech companies and large office users who are committed toattracting and retaining a young, educated workforce.

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Bartos tells GlobeSt.com, “This project is cooland unique to the market, like what you might see in New York orSan Francisco. It will be a community within a building.Millennials are dictating the way in which real estate decisionsare being made. The work schedule has changed; it's no longer nineto five, it's 10 to 10. Employees may leave the building for awhile and come back and work later. Working after hours gives thema chance to utilize some of these cool spaces like the bocce ballcourt, the grilling area and other features. Access to theuniversity was very important as well as the ability to utilize thelabor coming out of Gilbert, Chandler and Mesa.”

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Gensler has redesigned the masonry industrialbuilding.

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EverWest Real Estate Partners andCarVal Investors purchased the manufacturingproject from Jabil Circuit Inc. in July2014.

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“This acquisition was underwritten for high-end office from thestart,” says Curt Kremer, managing director ofacquisitions with EverWest. “We identified the facility as a greatopportunity for a project unlike any other in themarketplace. The location at the Loop 101 and 202 and itsproximity to Arizona State University is ideal for delivering ourvision. We believe this property will attract a range ofbusinesses from across the user spectrum. The recent changein our standard office culture is promoting a collaborativeworkplace to attract the millennial labor pool and we are committedto delivering a product to allow our end users to do justthat.”

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The Circuit Tempe will feature indoor and outdoor spacesdesigned for efficiency, density and collaboration. Accordingto a new Cushman & Wakefield report Facing the Millennial Wave, today's millennial officeusers are seeking expansive floor plates conducive to the flexible,collaborative-based workspace concept. The open space ambience atThe Circuit Tempe will be completed with 17-foot ceiling heightsand an abundance of natural light through the addition of 60-plusskylights, new 14-foot floor to ceiling high-performance windows,and large glass roll up doors.

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The Circuit Tempe will provide a unique combination of indoorand outdoor spaces for its tenants. Sizable landscaped patioswill encourage outdoor meetings in a comfortable gardensetting. Outdoor bocce ball courts, misting systems,barbecues and flat screen TVs promote recreational breaks duringthe workday.

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“This is truly an adaptive, re-use project,” says Kremer. “We are re-purposing a wide variety of existing elements from theproperty's previous manufacturing life. Smoke hatches arebeing re-purposed into skylights. Outdoor steel structures atthe site are being re-made into benches and the existing securityfences are being creatively applied to outdoor patio spaces andretention areas. Concrete and masonry debris from thedemolition will be saved and later added to the retention areas ina decorative fashion. We have taken an obsoletemanufacturing facility and applied the re-use and recycle theory tocreate a unique and exciting work environment.”

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Young working processionals place priority on transportationoptions and convenience. The Circuit Tempe contains aremarkably generous parking lot with a 7:1000 parking ratio andwill also feature 140 bicycle racks for those who ride towork. The property is 1.7 miles from Arizona StateUniversity, 7 miles from Old Town Scottsdale and 8 miles to thePhoenix Sky Harbor Airport

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The Circuit Tempe is planned for completion in April 2015.

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