Tempe Town Lake Development
Marina Heights Makes Waves
The announcement of the $600 million office development deal by the joint-venture partners Ryan Companies US and Sunbelt Holdings sent shock waves through the community at the end of this last week. While the anchor tenant, State Farm, was the worst kept secret in real estate, the mere size and scope of the development certainly raised eye brows. The development will cover 2 million square feet on the South shore of Tempe Town Lake, between Mill Avenue and Rural on Rio Salado Parkway . In addition to the office space, there will be 40,000 to 60,000 square feet of restaurants and retail space. This is a massive announcement for Tempe and the Tempe Town Lake area. Much of the undeveloped real estate has been dormant ever since the great recession.
Read Article 1 about Marina Heights
Read Article 2 about Marina Heights
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Email Tom Tokoph | 602.549.9000
Designated Broker | Urban Realty & Development
Saturday, May 25, 2013