Motives for Moving
A major reason tech companies are branching out of Silicon Valley and San Francisco are costs, and not just the cost of real estate—the cost of talent as well, according to Ryan Severino, senior economist and director of research at Reis. There are educated workforces in other markets that are equally competent and not as expensive as the San Francisco and Silicon Valley salaried tech office workers.
The eight-square-mile McDowell Corridor has risen from the ashes of the long-defunct Los Arcos Mall. And the South Scottsdale area has emerged as a bright spot of recovery in the Valley. That emergence comes only after much effort by the city and its partners in recent years.
Conceived in two phases, The Palmeraie project could bring more than 600KSF of high end retail, restaurant and office space, as well as a future 150-key luxury hotel and residential component. The undeveloped parcel at the SWC of Scottsdale and Indian Bend would sprout as many as 15 one- and two-story buildings, underground parking, a network of connecting roads, sculpted landscapes and pedestrian-friendly open spaces.
Designed by Nelsen Partners Architects & Planners – who previously worked on projects at Kierland Commons, Scottsdale Quarter and Biltmore Fashion Park – the project described as an “upscale, high-end mixed-use village” promises a high level of sophistication and beauty.
More than 55,000 employees work for about 3,000 companies within the Scottsdale Airpark area, which covers about 5 square miles in north Scottsdale and Phoenix’s Kierland neighborhood. The Airpark added nearly 1,200 jobs over the past year and more than 7,000 jobs since the height of the recession in December 2009, according to Colliers.
OdySea Aquarium remains on track for a summer grand opening, a “topping out” recently took place. This new construction milestone marks the conclusion of steelwork to the top of the facility which included installation of 2 million pounds of steel and 1,198 beams for the 200,000-square-foot, three-story facility.
Carlisle Cos. Inc., now based in Charlotte, is moving more than 120 C-level, executive and management positions into Kierland One, 16430 N. Scottsdale Road in Phoenix on the southwest corner of Greenway Road.
Carlisle, a $5.5 billion global manufacturer of varied products, has five divisions located around the U.S. By December this year, all company operations and leadership for all five divisions will be located in a nearly 50,000-square-foot fourth-floor headquarters suite.
With the just-closed, $34.34 million office acquisition of Riverview Point, Harvard Investments and Lincoln Property Company (LPC) will combine new construction with existing buildings to establish a 425,861-square-foot, Class A office campus at the borders of Tempe, Scottsdale and Mesa, Arizona.
The new development, branded collectively as Waypoint, will combine Harvard and LPC’s recently delivered Waypoint One Class A office building. Ground will be broken soon for Waypoint Two Class A office building and the existing, two-building Riverview Point portfolio.
The result is a four-building business campus situated on 34.53 acres along the Loop 202 and adjacent to Mesa Riverview, a 1.3 million-square-foot retail, hospitality and entertainment complex.
Two Arizona cities made the top 20 in a listing of towns with a promising employment outlook in 2016, according to a national report released this week.
The ranking by financial website WalletHub ranked Scottsdale as the 16th-best place to look for a job in the coming year with Chandler in 20th place, driven by thriving hospitality and semiconductor employers, respectively.
Scottsdale and Chandler weren’t the only Arizona cities to do well in the ranking of 150 cities nationwide. Gilbert finished in 28th place, while Phoenix was 47th and Mesa was 50th on the list of best cities for job seekers.
Several cities in the metro Phoenix area made WalletHub’s 2016 Best & Worst Cities for an Active Lifestyle, with Scottsdale taking the No. 1 spot in the nation. Of the 100 major cities ranked in the study, Scottsdale had the highest overall rank. It ranked fourth for the “sports facilities & outdoor environment” ranking, and 11th on WalletHub’s “budget & participation” ranking.
One Scottsdale, a massive mixed-use project at the northeastern corner of Scottsdale Road and Loop 101, could feature a campus-like cluster of six-story buildings and nearly 3 million square feet of commercial space if plans are approved by the Scottsdale City Council in 2016.
