Staff Reports | Business & Construction
SkySong, The ASU Scottsdale Innovation Center, continues to see leasing activity with a series of new leases and expansions totaling more than 28,000 square feet across the project’s office buildings.
The latest transactions include a mix of new tenants, expansions and long-term commitments from companies spanning financial services, construction, commercial real estate and professional services, reflecting ongoing tenant activity at the project as it marks its 20th anniversary, according to a press release.
Leasing activity includes:
• NexGen Financial leasing 5,351 square feet in SkySong 2 in a newly constructed speculative suite. The tenant was represented by Juston Himelstein of Colliers.
• Ike Commercial leasing 1,695 square feet in SkySong 2.
• VCC Construction expanding its space in SkySong 3 from 1,571 square feet to 2,475 square feet while extending its lease. The tenant was represented by Tim Kempton of CBRE.
• Alliance Markets and Vending leasing 2,073 square feet in SkySong 1. Alliance was represented by Chris Corney of JLL.
• Flare, a former subtenant in SkySong 5, signing a lease extension for a 13,487-square-foot space in the building. The tenant was represented by Shane Toppen and Jeffrey Jackson of Savills.
• New American Funding signing a lease for 4,699 square feet in SkySong 4. The tenant was represented by Tom Adelson and Jen Metz of Adelson Brown.
The leasing activity is also driving additional investment within the project. In response to demand for move-in-ready office suites, construction is underway on 22,664 square feet of new speculative suites in SkySong 2, with delivery anticipated in late July. One of the six planned suites already has a signed letter of intent prior to completion.
Sharon Harper, chairman and CEO of Plaza Companies, the master developer of SkySong, said the activity reflects ongoing demand at the project and interest in flexible office space.
“SkySong continues to attract companies looking for an environment centered around innovation, collaboration and connectivity,” Ms. Harper said. “We’re seeing demand not only from new tenants entering the market, but also from existing companies making longer-term commitments and expanding their presence here.”
Ms. Harper said interest in speculative suites highlights tenant preference for turnkey office solutions.
“The demand for move-in-ready spaces has been especially strong,” Sharon Harper, president and CEO of Plaza Companies, said. “By investing in new spec suites, we’re able to respond quickly to what today’s tenants are looking for while continuing to strengthen the overall ecosystem at SkySong.”
Plaza Companies is the master developer of SkySong, in partnership with ASU’s University Realty, the City of Scottsdale and Holualoa Companies. SkySong is one of nine Innovation Zones ASU has across the Valley.
Plaza Companies provides development, financing, construction oversight, leasing renewals and expansions and property management at SkySong.
The Coppola Cheney Group of Lee & Associates is SkySong’s leasing broker.
SkySong is a 42-acre mixed-use development designed to:
● Create collaboration and innovation among technology companies and researchers.
● Support business objectives of on-site enterprises.
● Support Arizona’s role in innovation through the co-location of Arizona State University’s partners.
● Serve as a regional economic and social asset.
As a tenant in one of ASU’s nine regional Innovation Zones, companies located at SkySong have the opportunity to connect with talent, research and industries in partnership with ASU. ASU, which has about 194,000 students studying across four metropolitan Phoenix campuses, Los Angeles, Washington, D.C., and online, is one of the largest public universities in the nation. Its largest campus is in Tempe, less than three miles from SkySong.
