Development

"It's a carefully calculated risk," Dranoff told GlobeSt.com in 2016. "It's just a bullseye location, you just can't get a better location."

Hines and Cousins Properties are redeveloping the 2.5-acre former site of the Hayden House in to a modern office complex for Tempe's high demand for office space.

Earlier this year, Ideanomics consolidated its New York City offices into approximately 10,300 square feet of leased space on the 19th floor of 55 Broadway in the Financial District of Manhattan. The company also has offices in London, Hong Kong, Beijing, and Shanghai, China.

Developers proceed with plans to demolish the St. Denis hotel to build an office tower but community members voice concerns.

Landlords are more willing these days to fund tenant improvements, which in turn help tenants shrink their footprints.

Secaucus, NJ-based Hartz Mountain has previously stated while in contract for the property that it plans to demolish the more than 413,500-square-foot complex and develop warehouse and distribution space at the site.