Lincoln Property inks SRP deal for Papago office project  

___MAIN 1112

969681_281116078700215_1264255967_n_ Impossible

 

 

 

 

 

 

“You can’t be late until you show up.”

 

Eric Jay Toll Reporter-Phoenix Business Journal – Mar 11, 2015, 12:01am MST

Lincoln Property Co. has inked a deal with Salt River Project for the final phase of a 3.2 million-square-foot mixed-use development in Tempe.

The Grand at Papago Center will include seven new mid-rise towers with 1.8 million square feet of Class A office space. The project is the final phase of the 3.2-million-square-foot complex between Center Parkway, Priest Drive, Washington Street and Loop 202 in Tempe.

Lincoln Property inks SRP deal for Papago office project

 

The Grand at Papago Center is in the design phase and looking at an early 2016 groundbreaking.

Designed by Kendle Design Collaborative and HKS, the buildings will be constructed by general contractor J.E.Dunn.

Salt River Project retains ownership of the land over the life of the project, as it does with remaining the other buildings in the Papago Park Center area. Lincoln is taking 60 acres for its phase.

“We have two light rail stops and two freeway interchanges from the 202,” saidDave Krumwiede, executive vice president and Southwest regional manager for Lincoln.

SRP Development Manager Mitch Rosenhad expected that Papago Grand would be a live-work-play environment with hotels, apartments and retail development, but Krumwiede says Lincoln is focused on the office development.

“We’ve got the amenities with our location, and there could be other uses, but right now the demand is for offices,” he said.

The zoning and development plan for Papago Center still has entitlements for 800 apartments and two 600-room hotels. Those may be future additions now.

The Grand at Papago Center is part of the projected 20 million square feet of office and mixed-use development that will fill the lake micro-market over the next decade.

“Market activity is great, and we wanted to take advantage of conditions with this project,” said Krumwiede. “The market can absorb all of these projects building out over time. This is an ideal location, and with the rerouted Grand Canal, we offer tenants a beautiful water amenity.”

He said that the occupancy rate in the Tempe submarket is over 95 percent. “It’s even higher for Class A space,” he added.

One project has fallen by the wayside. The 2.1 million square feet proposed for Trendex Exchange was to move forward with a land deal between a Hong Kong-based development group and the city of Tempe. Several missed payment deadlines resulted in a dead deal.

Across the lake east of Sun Devil Stadium, Catellus is in the planning stages of the 330-acre Arizona State University eco-village to fund its Athletic Facilities District. Early projections call for a mixed-use development with around 10 million square feet of office and retail space.

Across the river from Papago Grand, Liberty Center at Rio Salado is filling its office space with 1.4 million square feet under construction in two phases.

Eric covers economic development, banking and finance, infrastructure, transportation and utilities.

SEE IT ALL:

http://www.bizjournals.com/phoenix/news/2015/03/11/lincoln-property-inks-srp-deal-for-papago-office.html?ana=e_phx_rdup&s=newsletter&ed=2015-03-11&u=gSklYpPXQRpogm%2FYl2twnQ09b2fd52&t=1426087179&page=all

 

 

 

  •  
  •  
  •  

I am actively looking to build relationships with Real Estate Investors and Owner / Users for Phoenix  –  Scottsdale   –  Tucson   –  Maricopa County  – Pima County  –  Pinal County  –  Cochise County  –  Santa Cruz County   –Yavapai County  –  Gila County   –   Arizona ,  USA   

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

                                                                                                    

1

Timeline of Phoenix, Arizona history

 

http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history

  •  

2

Phoenix, Arizona

http://en.wikipedia.org/wiki/Phoenix,_Arizona

 

  •  

3

Facts of Arizona – year 1848 to 2013

http://walter-unger.com/?p=9507

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix.

  •  

walterunger@ccim.net

1-520-975-5207

  •  

View my listings and my profile at:

http://www.loopnet.com/profile/14101172900/Walter-Unger-CCIM/Listings/

  •  

www.Walter-Unger.com

  •  

What is a CCIM?

  •  

Join My Mailing List

  •  

Investors and owner/users need to really know the market before making a move in commercial investment properties as the market has a lot of moving parts today. What’s going on socio-economically, what’s going on demographically, what’s going on with location, with competing businesses, with public policy in general — all of these things affect the quality of your commercial properties/investment properties.  Therefore, you need a broker who understands commercial properties.  Please go to my web-site and get all the newsflashes and updates in Commercial Real Estate. 

www.walter-unger.com

 

  •  

Check out my professional profile and connect with me on LinkedIn.

http://lnkd.in/bezpJ8t

Follow me on Facebook:

http://www.facebook.com/ungerccim

  •  

Follow me on Twitter:

https://twitter.com/Walterunger

 

Follow Me on Google+

https://plus.google.com/u/0/b/114560883588623379451/

Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  I am also a commercial land specialist in Phoenix and a Landspecialist in Arizona. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207 or Office:480-948-5554

 

  •  

 

www.Walter-Unger.com

  •  

Thank You

Walter

Walter Unger CCIM

Associate Broker,  West USA Commercial Real Estate Advisers

7077 E. Marilyn Road, Bldg 4, Suite 130

Scottsdale, AZ 85254

Cell:      520-975-5207   

Office :  480-948-5554

Fax: (480-658-1172  

walterunger@ccim.net

  •  

View my listings and my profile at:

http://www.loopnet.com/Profile/14101172900/Walter-Unger-CCIM/

  •  

www.Walter-Unger.com             

a little about me and my expertise – video

  •  

commercial-investment real estate adviser-land specialist

  •  

https://www.youtube.com/watch?v=PPs3kpKR4nY

  •  

What is a CCIM?

 

Delivering the New Standard of Excellence in Commercial Real Estate 

  • Commercial Real Estate Scottsdale
  • Commercial Real Estate Phoenix
  • Commercial Real Estate Arizona
  • Commercial Investment Properties Phoenix
  • Commercial Investment Properties Scottsdale
  • Commercial Investment Properties Arizona
  • Land Specialist Arizona
  • Arizona Land Specialist
  • Land Specialist Phoenix
  • Phoenix Land Specialist
  • Land For Sale Phoenix
  • Land for sale Arizona
  • Commercial Properties For Sale Phoenix
  • Commercial Real Estate Sales Phoenix
  • Commercial Properties Phoenix
  • Commercial Properties Arizona
  • Commercial Land Specialist Phoenix
  • Commercial Land Phoenix
  • Multifamily land Phoenix
  • Retail Land Phoenix
  • Industrial Land Phoenix
  • Land Commercial Phoenix
  • Land Retail Phoenix
  • Land Industrial Phoenix
  • Land Multifamily Phoenix
  • Industrial Land for sale Phoenix
  • Land Industrial
  • P
  • Investment Real Estate

 

Disclaimer of Liability

The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.