TCC, ING Partnering on First Office Project

"We've had successful industrial projects with ING in the past and the success of those ventures paved the way to do this particular project," says James Mahoney, TCC's senior managing director of development and investment.

Douglas Brown, ING Clarion's managing director, tells GlobeSt.com that they'd been "informally" talking for some time about office construction. "Crow identified it and had approached other companies for potential partnership including us," he says. "This was a project we were interested in so the partnership for it made sense to both parties. Great location, good partner, low vacancy and strong demand--this just fit the bill."

Future projects will be determined on a case-by-case basis, but the top execs say credit the seven-acre site at Scottsdale Road and Paradise Lane as the motivation for the market drive. Mahoney points out that it's the last piece of office-zoned acreage in the 760-acre, mixed-use Kierland.

Mahoney says Max at Kierland, set to deliver in late 2007, is rising as spec. "Talking about leasing specifics is premature right now, but we're encouraged by the amount of activity we're having at such an early date," he says. TCC's leasing team is quoting $33 per sf, full service.

Richard Keating of Keating/Khang Architecture in Los Angeles designed the six-story building. McGough Cos. Southwest of Phoenix is the general contactor.