Mesa’s Riverview district is getting some more construction in the form of two new office buildings totaling 255,000 square feet of what developers are calling “amenity-driven office space.”
Lincoln Property Company is partnering with Harvard Investments to bring Class A office buildings directly east of Riverview. While there are no formal standards, “Class A” generally means that an office space is brand new or recently updated. This kind of office space commands the most expensive tenant fees and attracts the highest caliber of occupants.
“We were actually tracking the property back to 2005,” said David Krumwiede, Lincoln Property Company’s executive vice president. “We kind of rekindled our interest here recently. We saw a need here in the marketplace for bigger blocks of space … because nothing really big has been built since 2007-2008.”
He isn’t the only one saying that the market in the area is ripe for expansion of this kind. Following on the heels of the new Cubs Park, and along with the new Sheraton under construction just down the street, big construction is in demand, said CBRE senior vice president Dave Carder. CBRE brokered the deal on the land and will assist in other areas of the project.
“We are very excited to work with Harvard and Lincoln on this new endeavor,” Carder said in a statement. “Momentum and demand for large blocks of Class A office space have returned to the office sector in force, and along with it great opportunity to create exceptional next-generation business environments.”
The addition is another step in the city’s plan for further development of the area and the office space has been a part of the city plan for some time, said William Jabjiniak, economic development director for Mesa.
“We consider the Riverview area an important employment area for the city. It is important for the city to have a good supply of Class A office space in order to attract quality companies. This will be a nice addition to that supply and will help us grow the number of jobs in the area,” Jabjiniak said.
He also said that the space is expected to accommodate nearly 1,700 jobs in total.
The initial version of this article stated Lincoln and Harvard buildings were 93-percent leased. The buildings are speculative and currently not leased.
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