Lincoln Property Company (LPC), Harvard Investments, dignitaries from the City of Mesa and business and community leaders joined today to celebrate the groundbreaking of the first office building at Union, a new project that - at build out - will total 1.35 million square feet in four Class A office buildings at the confluence of Mesa, Tempe and Scottsdale, Arizona.
Union's first building will total 238,348 square feet in four stories and will be served by an adjacent four-level parking garage. Like all of the buildings planned at Union, building one will feature a modern glass exterior, an active first floor, large office floorplates with high ceilings, outdoor balconies and 10-foot vision glass providing sweeping views of the surrounding city and mountains, including the adjacent Riverview Park and Lake.
Building one will connect to the larger Union master plan via a lush, main pedestrian plaza and indoor-outdoor features such as shaded gathering areas and outdoor rooms linked by the Rio Salado Pathway.
"Lincoln Property Company and Harvard Investments have a solid track record of building excellent Class A office space in Mesa," said City of Mesa Mayor John Giles. "Mesa's Riverview District has grown into an epicenter of shopping, food, entertainment and jobs with easy access to freeways and neighborhoods. I look forward to watching Union evolve as an employment centerpiece for the District and our residents."
"It was an honor to be a part of the groundbreaking ceremony for Union," said City of Mesa Vice Mayor and District 1 Councilmember Mark Freeman. "This project shows the City of Mesa's commitment to economic development and creating high quality projects that will help to increase the quality of life in our community. The developers and the finance teams have been a pleasure to work with and I support them and this wonderful project."
Union sits on 28.2 acres of land, just off of Dobson Road and Rio Salado Parkway and in the heart of the mixed-use Riverview District. Buildings at the project will range from four to eight stories and from 232,000 to 450,000 square feet.
Building one is the first of these, sitting at the northeast corner of the Union site with direct frontage to the Loop 202 and building signage opportunities seen by approximately 160,000 cars per day.
"Office absorption in this submarket is at a near all-time high, with demand coming from a long list of businesses looking for the amenities and Class A office space that this corridor provides.," said Lincoln Property Company Executive Vice President David Krumwiede. "Union was specifically designed to meet these needs. We're very excited to celebrate the start of its construction."
Union is 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 Wrigleyville West, home of the Chicago Cubs spring training.
Union's building one will be served by 1,344 parking spots (1,029 within the parking structure and 315 surface), creating a 6/1,000 parking ratio. It offers easy access through two freeway interchanges - at the Loop 202 at Dobson Road and the Loop 101 at Rio Salado Parkway - and is two miles from Arizona State University's main Tempe campus and 10 minutes from Sky Harbor International Airport.
Completion of building one at Union is scheduled for October 2020.
DAVIS is the project architect. Wespac is the general contractor. Lincoln Property Company will serve as the project's leasing agent and property manager.
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/ .
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