Before it is set to break ground, the first building at Lincoln Property Company's Union Class A office project has signed its first tenant. WageWorks Inc. (NYSE: WAGE) has committed to a 150,000-square-foot lease that will bring as many as 1,000 jobs to the development, located at the confluence of Mesa, Tempe and Scottsdale, in the heart of the mixed-use Riverview District.
LPC and project partner Harvard Investments anticipate breaking ground on Phase One at Union this summer.
"Union continues to build out the mixed-use vision that the City of Mesa established years ago, when it created this master plan and earmarked this land for premier, Class A office space," said Lincoln Property Company Executive Vice President David Krumwiede. "We are thrilled to add Union to LPC's innovative East Valley development portfolio and are honored that WageWorks has chosen to commit here as Union's first tenant. We wish them all the best in their new space."
"Congratulations to Lincoln Property Company on landing their first tenant at Union before ground has even been broken on this exciting new development at Riverview," said City of Mesa Mayor John Giles. "This area is booming, and we are proud that WageWorks has selected Mesa for their primary operating site, bringing 1,000 jobs to the epicenter of District 1."
A leader in administrating Health Savings Accounts (HSAs) and other Consumer-Directed Benefits (CDBs), San Mateo, California-based WageWorks will use its new space as a primary U.S. operating site, housing approximately 500 current employees and generating approximately 500 new jobs for the Valley.
"I am thrilled to welcome WageWorks to District 1 and the City of Mesa," said City of Mesa Vice Mayor and District 1 Councilmember Mark Freeman. "Union is in a premier location and I know this is the first of many great businesses that will be calling this property home."
Union's first Class A office building will total 232,000 square feet with an adjacent 1,120-space, four-level parking garage. It sits at the northeast corner of the property, fronting the Loop 202. Phase One is part of four buildings, each with attached garages, planned for Union. At build out, Union will total up to 1.35 million square feet of Class A office space on 28.2 acres of city-owned land.
Buildings at Union will range from four to eight stories and from 232,000 to 450,000 square feet. Each will feature modern glass exteriors, active first floors and large office floorplates with high ceilings and 10-foot vision glass providing sweeping views of the Superstition Mountains and to Riverview Lake, which is located directly to the south of the property.
"WageWorks selecting Union in Mesa's Riverview District will give the company considerable access to the metro area's burgeoning and talented workforce," said City of Mesa Economic Development Director Bill Jabjiniak. "Mesa is a truly smart location for intelligent companies such as WageWorks."
Designed to attract and retain market-leading companies and their employees, Union will provide a master planned campus that creates a strong sense of place. Indoor-outdoor design features will include a lush main pedestrian plaza, shaded gathering areas and outdoor rooms connected together - and to the area's nearby buildings and uses - by the Rio Salado Pathway.
Union is located on Cubs Way, just off of Dobson Road and Rio Salado Parkway. It fronts the Loop 202, providing direct freeway exposure and monument signage opportunities seen by approximately 160,000 cars per day. The project sits within the heart of Mesa's Riverview mixed-use district, surrounded by 1.2 million square feet of retail, restaurants and the Sheraton Mesa and Hyatt Place hotels. It is also within walking distance to Sloan Park, home of the Chicago Cubs spring training, the highest attended spring training team in the Valley.
Employees and visitors will benefit from an onsite parking garage with a 5/1,000 parking ratio, and freeway interchanges at both the Loop 202 at Dobson Road, and the Loop 101 at Rio Salado Parkway. The location is just two miles from Arizona State University's main Tempe campus and 10 minutes from Sky Harbor International Airport.
DAVIS is the project architect. Layton Construction Company is the general contractor. Ryan Orton and Scott Maxwell from CRESA represented WageWorks in the lease transaction. Lincoln Property Company and Cushman & Wakefield are Union's exclusive leasing brokers.
To discuss build-to-suit, investment, leasing or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.
About Lincoln Property Company
Lincoln Property Company (LPC) is an international full service real estate firm offering real estate investment, development, design/construction management, leasing and property management/ receivership/asset management services. LPC has approximately 8,000 employees with an international footprint that includes offices in 45 cities across the U.S. and six cities in Europe and South America. Since 1965, LPC has developed more than 128 million square feet of office, industrial and retail projects known for their design, quality and superior locations. It currently has more than 406 million square feet of commercial space under leasing and/or management. Lincoln is also one of the nation's largest apartment developers, having developed more than 209,000 multifamily units and currently managing more than 165,000 multifamily units.
LPC's Desert West Region, which includes Arizona, Nevada, Utah and New Mexico, is based in Phoenix and has been operating since 2001. In that time, the regional office has developed more than 3 million square feet, acquired 4 million square feet and manages approximately 10 million square feet of commercial space, including major, award-winning and LEED Certified developments and investments. In 2016, the Phoenix office generated a record-breaking year with more than $233 million in investment and development activity. It is consistently ranked among Phoenix's top commercial real estate firms for both development and property management, including its latest recognition as the NAIOP Arizona 2018 Owner/Developer of the Year and recent designation as an Arizona Republic Top Companies to Work for in Arizona. To learn more about Lincoln Property Company, please visit www.lpc.com or www.lpcphx.com.
About Harvard Investments
Harvard Investments, Inc. is a real estate investment and development company with real estate holdings throughout the western United States. Harvard combines experience, integrity, and financial stability to create high quality, environmentally sensitive, profitable communities. Harvard's Canadian parent, the Hill Companies, is a privately held diversified company involved in real estate development including construction and leasing of commercial office buildings and retail properties, oil and gas production and distribution, broadcasting, surety bonding, and insurance. The Hill Companies have been under continuous family ownership and operation since 1903. To learn more visit http://www.harvardinvestments.com/.