Corporate user wanted: Lakefront views

A major developer has announced plans for a new high rise office building alongside other glittering towers on Tempe Town Lake. Now, it’s looking for a major tenant.

KDC, a leading developer of corporate build-to-suit developments for major companies such as State Farm and Toyota, announced a joint venture with national construction firm The Weitz Company to develop the new Tempe Waterfront building just east of the new State Farm campus.

KDC will develop the Class A build-to-suit project and Weitz will serve as the general contractor for up to 400,000 square feet of office space. SmithGroupJJR will be project architect.

“We’re really excited about putting our plan together with Tempe to make this an attractive spot for corporate users,”  said Peter Yates, KDC market director for the Phoenix area. “We want to create this attractive mixed-use property to give a large corporate user prominence on the waterfront and give them Tempe’s exciting amenities.

“We hope we win something soon.”

The site is steps from jogging, bike paths and paddle boating. It is close to downtown and the Novus Innovation Corridor and has easy access to State Loop 202 via McClintock. Next door is the Arizona State University campus and the renovated Sun Devil Stadium. A master plan for adjacent sites includes a hotel, multifamily and retail.

One other property along the river in south Phoenix also is seeking a developer for an infill project. Phoenix has an open request for proposals (RFP) for the lease and redevelopment of 156 acres between 7th and 16th streets for commercial, recreational and other uses. It is the site of the former Del Rio landfill that closed in 1981.

If successful, it and the coming Tempe Waterfront high-rise represent two steps forward in a Valleywide dream, called Rio Reimagined, to develop a 58-mile stretch of the Rio Salado. Eight communities along the river are working together to attract development, build recreational and sports facilities, and preserve and restore natural habitats.

Kimberly Davids, general manager at The Weitz Company, said it is proud to be aligned with KDC to partner in bringing a ‘marquis’ corporation to the Tempe lakefront.

“Together, we understand how significant the development will be in bringing more business and economic growth opportunities to this thriving area of Tempe,” Davids said.