George Oliver Secures Next Experiential Office Transformation: Hayden Station in Downtown Tempe, AZ

 

Hayden Station in Downtown Tempe, AZ
 spans 107,508 square feet, including one five-story
office building and four two-story mixed-use buildings
 that are home to office, retail and restaurant space.

 PHOENIX, AZ – Phoenix-based developer George Oliver has announced plans for its next Arizona experiential office transformation: the five-building Hayden Station mixed-use office campus, located on the southwest corner of Mill Avenue and Third Street in the heart of downtown Tempe.

 Built in 1986, Hayden Station has served as a downtown Tempe landmark for more than three decades. It spans 107,508 square feet, including one five-story office building and four two-story mixed-use buildings that are home to office, retail and restaurant space.

The five-story tower offers views of downtown Tempe, Tempe Town Lake and Hayden Butte.

Curt Kremer

 “From a live-work-play perspective, this location is our most exciting infill, campus-style repositioning strategy to date,” said George Oliver Founder and Managing Partner Curt Kremer.

 “It has everything in place – great existing structures, dynamic employee and tenant demographics, and a strong mixed-use character – to deliver one of the best George Oliver concepts in the country.”

 With an approximate $14 million capital improvement budget, George Oliver will upgrade Hayden Station to an unmatched experiential office class that incorporates retail and restaurant space, and establishes flexible, open concept interiors with the high-touch design that its users have grown accustomed to.

Steve Lindley

George Oliver purchased the Hayden Station property in an off market transaction. The acquisition totals all five Hayden Station buildings, with an attractive 4.2/1,000 parking ratio. 

Steve Lindley, Cushman & Wakefield Executive Director, represented the property seller in the transaction.

Scott Boardman

 “This is a notable transaction for the market – completed in one of the tightest, most sought-after office locations in the country, with office rents approaching $50 per-square-foot, continued tenant demand and a low 8.1 percent office vacancy,” said Lindley.

“This off-market deal is a testament to George Oliver’s reputation and their ability to add exponential new value and energy to one of downtown Tempe’s longstanding mixed-use destinations.”

The design and architecture for Hayden Station is being led by George Oliver Design. Scott Boardman and Dave Carder of Cushman & Wakefield will serve as the project’s exclusive leasing brokers.

 

Dave Carder

Hayden Station is part of a growing local portfolio of notable George Oliver projects including CASA in Phoenix’s Uptown neighborhood, The Alexander and The Johnathan in downtown Chandler, and Lofts at The District in North Scottsdale.

  CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

www.georgeoliver.com.