Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Downtown Tempe is growing rapidly, and there is a growing demand for large-blocks of office space. Hines and Cousins Properties are stepping up. A joint venture between the two firms is redeveloping the 2.5-acre former site of the Hayden House, the historic former home of Arizona Senator Carl Hayden at 100 Mill Avenue. The site will begin construction in the second quarter 2019, and will include a 15-story modern office tower as well as a hotel or apartment complex on a mixed-use.

“Tempe is a progressive urban hotspot, one of the most walkable cities in Arizona, and is home to Arizona State University, a top-tier university recognized nationally for its innovation and diverse sophisticated student body,” Brandon Dillingham, director of development for Hines’ Arizona office, tells GlobeSt.com. “Tempe benefits from multiple channels of public transportation and immediate access to the freeway system and Phoenix Sky Harbor airport. It draws from a very dynamic workforce in close proximity to its city center, and the immediate site boasts a large variety and concentration of restaurants, parks, and amenities.”

Tempe has evolved along with the Greater Phoenix market, and there is currently strong demand for large blocks of office space. As a result, this is a speculative office development—and not the only one in the market. The Watermark Tempe is also a speculative office build in the market. “This is a speculative development, however the very high tenant demand for large blocks of contiguous class-A office space in the Downtown Tempe/Mill Avenue submarket south of the lake would indicate that the building could be significantly leased up before the building starts construction,” says Dillingham.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.