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| David Krumwiede |
TEMPE, AZ – Papago Park Center, Inc. announced that Lincoln
Property Company (LPC) has been selected to develop the first phase of Class A
and mixed-use office space for The Grand
at Papago Park Center.
The total project is a 60-acre, high-profile, urban
mixed-use property on the last developable parcel within the 350-acre Papago
Park Center.
The Grand project will serve as the final phase of one of
the largest business parks in Arizona. Papago Park Center, Inc.,
The Grand
project’s master developer, selected LPC after an extensive RFP process that
included local, regional and national development candidates.
The Grand at Papago Park Center is located along the Loop
202/Red Mountain Freeway between Priest Road and Center Parkway, and is named
after the adjacent Grand Canal.
The Grand Canal is a waterway developed in the 1870s to
bring water from the Salt and Verde rivers to Metropolitan Phoenix. It was
recently relocated to run through The Grand project, creating a water feature
for the development. The completion of the canal relocation project will be
celebrated with an upcoming event in March.
The Grand is part of Papago Park Center, home to the
corporate offices of Salt River Project (SRP) as well as First Solar, Wells
Fargo Home Mortgage, DHL, Union Bank, Sonora Quest Labs, State Farm Insurance,
Western Refining and Parsons Brinckerhoff.
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| Nina Mullins |
At build-out, The Grand will total more than 3.2 million
square feet of mixed-use office, multifamily, hotel, retail and restaurant
space, including up to six 10-story, Class A office buildings surrounding a
central water feature.
When combined with Papago Park Center’s existing 3.3 million
square feet of mixed-use projects, there will be more than 6.5 million square
feet of urban development and approximately 20,000 employees and residents.
“The Grand signifies the innovation and importance of the Grand Canal and the natural history of Papago Park,” said Nina Mullins, Senior Director of Papago Park Center, Inc.
“It exemplifies the need to both further advance the economic vitality of our Valley and to protect the resources that sustain our more than 4 million residents.”
Jerry Roberts, Corey Hawley and Patrick Boyle with CBRE will lead the marketing and leasing efforts for The Grand’s office development. HKS Architects/Kendle Design Collaborative both serve as the office project architects and JEDunn will serve as the general contractor.
Tempe Mayor Mark
Mitchell said development of The Grand at Papago Park Center further adds
to the positive momentum of Tempe’s economy.
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| Tempe, AZ Mayor Mark Mitchell |
“This is a boon to Tempe. The Grand will have impressive
spaces rivaled by few in the region,” he said. “I am excited the site will
feature pedestrian and bike paths connected to Tempe Town Lake that will be
enjoyed by employees and the public.”
LPC is rolling out plans this month for its first office
buildings. At build-out, The Grand will have a total of 1.8 million square feet
of Class A space in six buildings. Construction on three parking garages will
coincide with the buildings’ development.
“Being selected for this project evokes a sense of history,
partnership and environmental stewardship,” said Lincoln Property Company’s
Executive Vice President David Krumwiede.
“We are extremely
excited to work with Papago Park Center and to have the opportunity to pay
tribute to the historic Grand Canal as the focal point of the development. We
also recognize the all-time high demand for Tempe’s live-work-play environment,
and believe now is an ideal time to build something very unique and lasting.”
For a complete copy
of the company’s news release, please contact:
Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195
