Construction Begins on Office Building North of Tempe Town Lake

Article originally posted on Phoenix Business Journal on February 13, 2020

Construction began Wednesday on the 999 Playa building on the north side of Tempe Town Lake, a project that will bring 94,000 square feet of office space for rent to the Valley’s hottest office submarket.

The $45 million office project will be the final piece of the Playa Del Norte subdivision. Derek Flottum, Irgens’ development director in Phoenix, said tenant improvements in the building will begin by the end of the year, and the building will open in May 2021. Irgens plans to move its regional headquarters into a small office space on the ground floor of the building, which also features three levels of Class A office space above three levels of parking.

“Tempe has the lowest office vacancy rate in the Valley and the ability to attract Fortune 500 companies looking to establish a presence in a business-friendly state like Arizona,” Flottum said. “We want to meet that demand with a best-in-class product.”

Andrew Cheney of Lee & Associates, who is the leasing broker for the building along with Craig Coppola and Gregg Kafka, said leasing activity so far for the building has been “ahead of schedule,” and said proposals are being issued for space in the building.

Find the complete article here: https://www.bizjournals.com/phoenix/news/2020/02/12/construction-begins-on-office-building-north-of.html?iana=hpmvp_phx_news_headline

An artist's rendering shows the planned 999 Playa building, which Irgens is planning to develop near Tempe Town Lake.

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