RARE SITE IN THE HEART OF DOWNTOWN TEMPE square feet along Tempe Town Lake, including State Farm’s...

DOWNTOWNPHOENIX

LIGHT RAIL

MIDTOWNPHOENIX

CAMELBACK CORRIDOR

PAPAGO PARK

DOWNTOWN TEMPEMILL AVENUE DISTRICT

6TH STREET

VETERANS WAY

RURAL ROAD

UNIVERSITY DRIVE

HAYDENFERRY

MARINAHEIGHTS

SUN DEVILSTADIUM

WELLS FARGOARENA

LIGHT R

AIL

FUTURE4,200-SEAT

MULTI-PURPOSE ARENA

Subject Site

RARE SITE IN THE HEART OF DOWNTOWN TEMPE±1.0 Net Acre High Density Multifamily Development Site Within the ASU Novus Innovation Corridor SWC 6TH STREET & PACKARD DRIVE | TEMPE, AZ

David Fogler602.224.4443 [email protected]

Steven Nicoluzakis602.224.4429 [email protected]

MULTIFAMILY capital markets groupDAVIDFOGLER | STEVENNICOLUZAKIS

Cushman & Wakefield is pleased to present a unique opportunity to obtain a long-term, prepaid ground lease for a ±1.0 net acre, high density multifamily development site within Arizona State University’s Novus Innovation Corridor. This rare opportunity is for Parcel 3F located on the southwest corner of 6th Street and Packard Drive, immediately north of the University Drive Light Rail Station.

Novus Innovation Corridor is a 350-acre, mixed-use development planned for approximately 10 million square feet along Tempe Town Lake, including State Farm’s 2.1-million-square-foot Marina Heights regional office. Strategically integrated with Arizona State University (ASU), wholly on university-owned land, Novus is managed by master developer Catellus, a national leader in the development of urban mixed-use communities. Novus is a unique opportunity to develop the 21st century urban community on an infill canvas

THE OFFERING

*Plan is conceptual and subject to change.

±1.0 Net Acre High Density Multifamily Development Site Within the ASU Novus Innovation CorridorSWC 6TH STREET & PACKARD DRIVE | TEMPE, AZ

in the center of one of the nation’s largest and fastest growing metropolitan areas. The development will include a variety of urban neighborhoods that feature office, retail, hospitality and residential activities, creating the potential to bring more than 30,000 new jobs and 5,000 new residents to the thriving Tempe community.

Tempe, one of the Phoenix area’s most dynamic environments, features a large, educated workforce of over 200,000 people, a diverse mix of major employers including State Farm Insurance, First Solar, Amazon, Microsoft, ZipRecruiter, Chase Bank, Edward Jones, Medtronic and Wells Fargo among others. In addition, Tempe offers major events at venues such as ASU Gammage, Tempe Town Lake, Tempe Center for the Arts and at the various ASU athletic facilities. Tempe is also recognized as being the most bikable and walkable community in the Phoenix area.

Plan Overview | 7

Scottsdale

Athletics Village

Wells Fargo Arena

Events Venue

Desert Arboretum Park

Packard Drive Garage

Future Development by Others

ISTB-7

Tempe Marketplace

Cornerstone ShoppingCenter

*Plan is conceptual & subject to change.

Metro Station

Tempe Town LakeTempe Town Lake

University Drive

Red Mountain Fwy

Rural Road

McClintock Drive

Rio Salado Pkwy

±154,000 SF Office Space

and ±8,500 SF Ground Floor

Retail (Q1 2019 start)

±150,000 SF Office Space with Ground Floor Retail

Future ±260 Room Hotel

(Q1 2019 start)

±158,000 SF Office Space

and ±7,500 SF Ground Floor

Retail

Future ±262 Unit Multifamily with

Ground Floor Retail (Q1 2019

start)

Food Hall/ Mixed Use

1 ACRE MULTIFAMILY PARCEL 3F AVAILABLE

Future Parking Structure ±2,500 Stalls (Q2 2019 start)

(est. completion 2020)


Site DetailsSite Size: ±1.2 Gross Acres / ±1.0 Net Acre

Parcel Number 132-25-025 (partial)

Current Zoning: Mixed-Use Educational (MU-Ed), City of Tempe(Zoned for proposed use and density.)

Current Use: Vacant

Proposed Use:

Because of its high profile location within the Novus Innovation Corridor, Catellus and ASU are seeking an innovative, unique, high-density residential development for Parcel 3F. Strong preference will be given to projects with Type I construction and a targeted niche such as micro-units or active adult uses. LEED Silver certification will be required. Purpose-built student housing is not permitted within Novus.

Lease Payment: Prepaid. Pricing to be determined by market.

Lease Term: 99 Years

Real Estate Taxes: Assessment in lieu of real estate taxes (equivalent to property taxes).


THE PROPERTY

Urban Land Institute Arizona awarded Tempe the “Smart Growth Award”

The parcel offered is within walking distance of the Light Rail station at University and Rural. The 26-mile Valley Metro Rail Line connects Phoenix, Tempe and Mesa, serv-ing employment, activity and cultural cen-

ters, downtown Tempe, ASU and Sky Harbor International Airport. Tempe is the only city in Greater Phoenix to have border to border service.

ASU Open Space

Retail

Low- to Mid-Rise Office

Mid- to High-Rise OfficeHospitality

Residential

Parking

Land Use Plan

Novus Innovation Corridor Planning Area

0’ 200’ 400’ 800’

*Plan illustrates potential improvements to be implemented by multiple parties and is subject to change.

**Areas shown on each parcel are Net Developable Areas

McC

linto

ck D

rive

Pack

ard

Dr

3rd St

University Drive

Rio Salado Parkway

Rura

l Roa

d

Nov

us P

lace

4th St

Veterans Way

Dor

sey

Lane

6th St

Marina Heights

Sun Devil Stadium

Wells Fargo Arena

DesertArboretum

Park

‘A’ Mountain

Events Venue

Tempe Town Lake

FutureDevelopment

ISTB 7

Athletics Village

Ocotillo

Existing Garage

Lakefront Park

7F 5A 5B

5C5D

5E

4A 4B 4C

6A6D

6B

6C

6E

6F

6G 6I

6J

6H

7J7K 7E 7D

7B7A

3A

3CS

3CN

3B

3DS3DN

3E 3F

7C

7I

7H

7G

3G

4F5.1ac 11.2ac 6.3ac 24.6ac

2.2ac

2.0ac

2.5ac

3.9ac

4.0ac

3.2ac

1.5ac

3.0ac

3.2ac

3.6ac

2.8ac

3.8ac2.6ac

1.0ac

2.9ac

2.0ac

2.9ac

4.2ac

1.2ac 1.1ac

1.4ac

1.4ac1.6ac

1.9ac

1.1ac

1.1ac

2.5ac1.0ac 1.2ac

3.0ac1.0ac

1.9ac

2.0ac

2.0ac

2.1ac

LIGHT RAIL

Site

ASU Open Space

Retail

Low- to Mid-Rise Office

Mid- to High-Rise OfficeHospitality

Residential

Parking

Land Use Plan

Novus Innovation Corridor Planning Area

0’ 200’ 400’ 800’

*Plan illustrates potential improvements to be implemented by multiple parties and is subject to change.

**Areas shown on each parcel are Net Developable Areas

McC

linto

ck D

rive

Pack

ard

Dr

3rd St

University Drive

Rio Salado Parkway

Rura

l Roa

d

Nov

us P

lace

4th St

Veterans Way

Dor

sey

Lane

6th St

Marina Heights

Sun Devil Stadium

Wells Fargo Arena

DesertArboretum

Park

‘A’ Mountain

Events Venue

Tempe Town Lake

FutureDevelopment

ISTB 7

Athletics Village

Ocotillo

Existing Garage

Lakefront Park

7F 5A 5B

5C5D

5E

4A 4B 4C

6A6D

6B

6C

6E

6F

6G 6I

6J

6H

7J7K 7E 7D

7B7A

3A

3CS

3CN

3B

3DS3DN

3E 3F

7C

7I

7H

7G

3G

4F5.1ac 11.2ac 6.3ac 24.6ac

2.2ac

2.0ac

2.5ac

3.9ac

4.0ac

3.2ac

1.5ac

3.0ac

3.2ac

3.6ac

2.8ac

3.8ac2.6ac

1.0ac

2.9ac

2.0ac

2.9ac

4.2ac

1.2ac 1.1ac

1.4ac

1.4ac1.6ac

1.9ac

1.1ac

1.1ac

2.5ac1.0ac 1.2ac

3.0ac1.0ac

1.9ac

2.0ac

2.0ac

2.1ac

Apartments

(262 units/ 27,000 SF of retail -construction start

Q1 2019)

6

2 | A. RENDERINGS SHOWING URBAN CONTEXT AND PEDESTRIAN/URBAN EXPERIENCE

Hotel

(260 rooms -construction start

Q1 2019)

Office Building

(154,000 SF office/8,500 SF retail -

construction start Q1 2019)

ASU Global Institute of Sustainability

(258,000 SF)

SUBJECTSITE

Food Hall/ Mixed Use

Parking Structure

2,500 stalls

(1st phase 1,250 stalls) construc-

tion start Q2 2019

PHASE III (19 ACRES)


350 ACRES IN THE HEART OF TEMPEINNOVATION FROM THE GROUND UP

The Novus Innovation Corridor marks

the next step in ASU's vision of the New

American University and the focal point of

the region's progress toward becoming an

international hub of innovation. ASU and

Catellus together have decades of experi-

ence shaping communities through strate-

gic public-private partnerships. Over the

next twenty years, ASU and Catellus will

fundamentally transform the surrounding

landscape.

Approximately 3,600 residences, over

4 million square feet of office and retail

space, and an array of global-caliber sports,

entertainment and artistic experiences are

planned. The land plan, designed to maxi-

mize development potential, incorporates

a neighborhood framework that includes

pedestrian thoroughfares and civic and

outdoor spaces. Four neighborhoods are

planned, each with a distinctive charac-

ter, that will flow together seamlessly. The

neighborhoods are designed to comple-

ment one another, contributing to a dis-

tinctive, local identity.

THE PROJECT

Tempe Town Lake

Athletics Vil lage

Univ

ersit

y Dr

ive

Rural Rd.

University and Rural Neighborhood

Rio Salado Creative Office ParkRio Salado and Rural

Neighborhood

McClintock LakefrontNeighborhood

Site

N.T.S

Rural Road

University Drive

LIGHT RAIL STATION

LIGHT RAIL STATION

PARCEL 3F 1 AC HIGH DENSITY

MULTIFAMILY

Parking Garage 2,500 Stalls

(1st Phase 1,250 Stalls) est. completion 2020

at Marina Heights

ASU ISTB-7 (est. completion

2020)

ASU BioDesign C

Hotel - 260 Rooms (est. completion

2020)

Food Hall / Mixed Use

6th Street Promenade

Residential - 262 Units / 27,000 SF Retail


154k SF Office 8.5k SF Retail


ASU 4,200-Seat Multi-Purpose Arena (est. completion 2021)

Novus Place Retail District

*Plan is conceptual and subject to change.


AREA AMENITIES

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ASUSUN DEVILSTADIUM

WELLS FARGOARENA

ASU MAINCAMPUS

ASU KARSTENGOLF COURSE

TEMPEBEACHPARK

MARINA HEIGHTS

HAYDEN FLOUR MILL

REDEVLOPMENTFUTURE

RESTAURANTROW

Light Rail Station

Light Rail

Entertainment

Dining

g

Shopping

Nightlife

Hotel/Condos

Site

Page 7

UNIVERSITY DRIVE

6TH

STR

EET

VETERANS WAYLIGHT RAIL

DOWNTOWN TEMPEMILL AVENUE DISTRICT

SOUTHMOUNTAIN

WELLS FARGOARENA

Aerial Map Looking Southwest

Bloomberg Business ranks Tempe as “America’s Third Most Affordable, Fun City”

LIGHT RAIL

LIGHT RAIL

Subject Site

PARK

USA Today ranks Tempe as 12th among “Cities That Attract Young Workers”

FUTURE4,200-SEAT

MULTI-PURPOSE ARENA

PAPAGO PARK

6TH STREET

VETERANS WAY

RURAL ROAD

SCOTTSDALE ROAD

DOWNTOWNSCOTTSDALE

CAMELBACKMOUNTAIN

PIESTEWAPEAK

UNIVERSITY DRIVELIGHT RAIL

HAYDENFERRY

MARINAHEIGHTS

SUN DEVILSTADIUM

WELLS FARGOARENA

LIGHT RA

IL

LIGHT RAIL

Aerial Map Looking North

Subject Site

FUTURE4,200-SEAT

MULTI-PURPOSE ARENA


1.3%

9.3%

29.6%

37.4%

17.8%

4.7%

85+

65-84

35-64

20-34

5-19

<4

City of Tempe Age Breakdown

Millennials make up the highest percentage of the Tempe population. 37.4%

CITY OF TEMPE AGE BREAKDOWN

CITY OF TEMPE POPULATION GROWTH

140,000

150,000

160,000

170,000

180,000

190,000

200,000

210,000

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

Tempe is slated to increase by 16,475 people in the next 5 years.8.8%

Tempe has a distinct identity as an emerging destination city, replete with all the offerings of a city rich in economics, technology, culture, tourism and educational resources. Tempe offers a blend of quality new developments, revitalization and redevelopment, prestigious institutions such as Arizona State University, and celebrated traditions. Tempe brings it all together – bright Arizona sun, rewarding places to work, diverse cultures, a myriad of recreational opportunities, the best in entertainment and an unparalleled Southwestern lifestyle. Tempe is the place to live, learn, work and play!

"#7 for the Best Downtown in the Nation" by Livability (2016)

THE CITY OF TEMPE

Without a doubt, Tempe’s Mill Avenue District in Downtown Tempe is the hottest entertainment center in Arizona. It is the hot spot in the Valley of the Sun Phoenix area with the highest concentration of restaurants, cafes, microbreweries, sports bars, unique shopping and nightlife than any other place in the Metro area.


TEMPE EDUCATION ATTAINMENT

Nearly half of Tempe residents have earned an associates degree or higher49.7%

13.6% High School

Graduate 24.7% Some College

7.7% Associates

Degree 25.2% Bachelor’s

Degree

16.8% Graduate Degree

25-acre Tempe Beach Park for major

community events

10,000+ miles of hiking trails

More than 100 restaurants, shops, nightclubs and

art galleries

750+ miles of bikeways

THE CITY OF TEMPE

Arizona State University’s (ASU) main campus is located in Tempe. One of the largest universities in the nation, ASU of-fers programs serving more than 73,000 undergraduate and graduate students in a variety of educational majors. It is especially noted for its engineering, business, education and law programs. Tempe is home to several institutions that part-ner with the private sector to advance medical research, build new products and improve the environment. ASU research has helped to explore Mars, fight cancer, find new water sources and cool the planet.

Tempe is one of the few Southwestern cities that has more workers than residents in the city on an average business day. The mix of creative teams, technology companies, architects and Fortune 500 business, along with the students from ASU and other Tempe colleges, gen-erates an electricity that is palpable.

US News and World Report has named ASU the nation’s “Most

Innovative University” for 2019 and each of the past 3 years.

TOP TEMPE EMPLOYERS

10,089 Employees

4,703Employees

4,236 Employees

3,996 Employees

3,331 Employees

3,000Employees

3,000Employees

1,500Employees

2,559 Employees

2,377 Employees

8,000 Employees

1,898Employees

UNIVERSITY DRIVERURAL ROAD

6TH STREET

VETERANS WAY

LIGHT RAIL

WELLS FARGOARENA

LIGHT RAIL STATION

©2018 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. No warranty or representation, express or implied, is made as to the condition of the property (or properties) referenced herein or as to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). Any projections, opinions or estimates are subject to uncertainty and do not signify current or future property performance.

For more information please contact:

David Fogler602.224.4443 [email protected]

Steven Nicoluzakis602.224.4429 [email protected]

MULTIFAMILY capital markets groupDAVIDFOGLER | STEVENNICOLUZAKIS

±1.0 Net Acre High Density Multifamily Development Site Within the ASU Novus Innovation Corridor

SCOTTSDALE

FOUNTAINHILLS

PARADISE VALLEY

PHOENIXSKY HARBOR

AIRPORT

PHOENIX

TOLLESONGOODYEAR

AVONDALE

SURPRISE

GLENDALE

SUNCITY

GILBERT

QUEENCREEK

CHANDLER

TEMPE

PEORIA

MESA

LIGHT RAIL

LIGHT RAIL

LIGHT RAIL

Subject Site

FUTURE4,200-SEAT

MULTI-PURPOSE ARENA

RARE SITE IN THE HEART OF DOWNTOWN TEMPE square feet along Tempe Town Lake, including State Farm’s...

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Transcript of RARE SITE IN THE HEART OF DOWNTOWN TEMPE square feet along Tempe Town Lake, including State Farm’s...