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Aug. 30, 2013

Plaza Cos. Plans Fall Start for SkySong’s 3rd Office Building

By Amalia Otet, Associate Editor

Plaza Cos. plans to break ground this fall on the third office building at SkySong-The ASU Scottsdale Innovation Center. To be located at 1475 North Scottsdale Road, near the 42-acre mixed-use development’s signature shade structure (pictured at right), the $32 million, 145,000-square-foot building will be a candidate for LEED certification.

Arizona State University will occupy one and a half floors of the four-story structure, and WebFilings will be expanding its presence by leasing a full floor in SkySong III. Plaza itself will take space on the first floor.

Plaza is SkySong’s master developer, in partnership with the Arizona State University Foundation and the city of Scottsdale. Holualoa Cos. of Tucson has recently partnered with Plaza on the project, according to the company. Alliance Bank of Arizona is providing financing for SkySong III, Butler Design is the architect and DPR will serve as general contractor.

At full build-out, the SkySong development will contain 1.2 million square feet of office, research and retail space. Additionally, plans call for a hotel/conference center as well as a $44 million residential project that would include 325 apartment units. The first 83 residential units are scheduled to open in October.

The development’s first two buildings, totaling 300,000 square feet of office space, are almost fully occupied. SkySong III is is already 65 percent leased and pre-leasing continues on SkySong IV which is fully permitted and “shovel-ready”, according to the developers.

“SkySong was built to create a unique location for companies with a focus on innovation and technology, and the project has succeeded in becoming a hub for forward-thinking entrepreneurship,” said Don Couvillion, vice president of real estate for the Arizona State University Foundation.

SkySong is currently home to more than 1,000 employees and 50 companies. Completion of SkySong III and IV and the apartments would bring the development to almost 900,000 square feet.

Photo credits: ASU SkySong

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