Phoenix Development News (3)

[xymox]

Originally Posted by locolife

Damn, can we at least get a few downtown high-rises for U.S. HQs for TSMC and SoftBank? That could be pretty massive, but I'm guessing they office nearby the operations.

I mean - the North Gateway Village has 200ft height restrictions already in place on the other side of I-17 from the TSMC site. So maybe towers sprout up there?

[Obadno]

Originally Posted by xymox

I mean - the North Gateway Village has 200ft height restrictions already in place on the other side of I-17 from the TSMC site. So maybe towers sprout up there?

We are going to get offices but hopefully not "high rises"

Ideally I would like to see the HQ operations, design, etc. in towers downtown with the manufacturing, R&D and logistics done up in deer valley.

If I was king of Arizona Id mandate it lol

[xymox]

Originally Posted by Obadno

We are going to get offices but hopefully not "high rises"

Ideally I would like to see the HQ operations, design, etc. in towers downtown with the manufacturing, R&D and logistics done up in deer valley.

If I was king of Arizona Id mandate it lol

I dunno - take the towers where we can get them (and where they make sense). Maybe not the best example - but the tallest buildings in Atlanta are up north in Buckhead - not downtown (IIRC). If North Gateway Village can support a bunch of tall office towers to support TSMC and other businesses that evolve up there - then put them there.

Still a bit of a dream - let's see this guy at least get his first $100B of investment flowing into the state before we spend the rest of the proposed $1T building stuff in our minds.

[Obadno]

Originally Posted by xymox

Still a bit of a dream - let's see this guy at least get his first $100B of investment flowing into the state before we spend the rest of the proposed $1T building stuff in our minds.

Its coming, its federally supported they've already spent tens of billions and have been working on this since like 2018 and 2019. They are committed

[combusean]

Originally Posted by xymox

I dunno - take the towers where we can get them (and where they make sense). Maybe not the best example - but the tallest buildings in Atlanta are up north in Buckhead - not downtown (IIRC). If North Gateway Village can support a bunch of tall office towers to support TSMC and other businesses that evolve up there - then put them there.

Still a bit of a dream - let's see this guy at least get his first $100B of investment flowing into the state before we spend the rest of the proposed $1T building stuff in our minds.

I think the default form for whatever goes up there as an office component is going to be where most new "urban" tech office developments pretty much max out these days: ~250,000 square feet, 6 - 8 stories, large floorplates, detached garage. This is squarely in the "built to be sold" category and rightsized for institutional investors.

Downtown headquarters that are generational investments obviously defy this but that just hasn't been done in Phoenix since like Valley National.

[xymox]

Originally Posted by Obadno

Its coming, its federally supported they've already spent tens of billions and have been working on this since like 2018 and 2019. They are committed

The TSMC portion - I have no doubt that's coming. It's like a freight train right now. Its here and you can't stop it. And it's been amazing watching it happen.

It's the Softbank portion I'm skeptical of. This guy talks a lot and not a lot happens. So color me skeptical until I see things going into the ground. While I think the Chinese model of mode cities works well for TODAY - this is for tomorrow. Automation is what this is going to enable - so I would expect smaller jobs impact overall. But most definitely would be extremely positive if just 10% of what he's talking about ever materializes in our lifetimes.

[somethingfast]

Originally Posted by combusean

Downtown headquarters that are generational investments obviously defy this but that just hasn't been done in Phoenix since like Valley National.

Add Dial/Viad tower to that list in 1990 - that was the last "signature" corporate home-based tower to be built.

[exit2lef]

Originally Posted by somethingfast

Add Dial/Viad tower to that list in 1990 - that was the last "signature" corporate home-based tower to be built.

I think there was a plan to eventually add a second tower that was never realized.

[Obadno]

Originally Posted by xymox

The TSMC portion - I have no doubt that's coming. It's like a freight train right now. Its here and you can't stop it. And it's been amazing watching it happen.

It's the Softbank portion I'm skeptical of. This guy talks a lot and not a lot happens. So color me skeptical until I see things going into the ground. While I think the Chinese model of mode cities works well for TODAY - this is for tomorrow. Automation is what this is going to enable - so I would expect smaller jobs impact overall. But most definitely would be extremely positive if just 10% of what he's talking about ever materializes in our lifetimes.

I agree on Softbank, they are big talkers but even if 20% of 1 trillion results that's still an insane investment: cheers:

[Obadno]

We are saying how corpos will never do downtown again and what do you know

Kellwood Co. Apparel company fleeing California has bought the Monroe Building for their new HQ. An apparel company buying a downtown office tower...... In Phoenix? what is going on

https://www.bizjournals.com/phoenix/news...onroe-building-and-plans-to-move-hq.html

Sorry Im behind a paywall. I have maybe seen one of these brands before: https://www.kellwood.com/

[xymox]

Originally Posted by exit2lef

I think there was a plan to eventually add a second tower that was never realized.

Seems like that's the story of this town 'there's always a second tower planned' that never materialized...

[xymox]

Originally Posted by Obadno

We are saying how corpos will never do downtown again and what do you know

Kellwood Co. Apparel company fleeing California has bought the Monroe Building for their new HQ. An apparel company buying a downtown office tower...... In Phoenix? what is going on

https://www.bizjournals.com/phoenix/news...onroe-building-and-plans-to-move-hq.html

Sorry Im behind a paywall. I have maybe seen one of these brands before: https://www.kellwood.com/

Is this similar to the Tuft & Needle escape from the bay that landed them on Grand Ave downtown? (only to wind up buying Sealy and keeping the HQ in ATL? Are they still downtown?)

[muertecaza]

Originally Posted by Obadno

We are saying how corpos will never do downtown again and what do you know

Kellwood Co. Apparel company fleeing California has bought the Monroe Building for their new HQ. An apparel company buying a downtown office tower...... In Phoenix? what is going on

https://www.bizjournals.com/phoenix/news...onroe-building-and-plans-to-move-hq.html

Sorry Im behind a paywall. I have maybe seen one of these brands before: https://www.kellwood.com/

Nice. Here are the high points:

Kellwood Company LLC purchased the Monroe building on June 23 for $17.08 million from an affiliate of Granite Point Mortgage Trust, according to Maricopa County documents.

The California clothing manufacturer plans to turn the 256,682-square-foot downtown Phoenix office building into its new headquarters, Newmark Executive Managing Director CJ Osbrink said in an email to the Business Journal.

Kellwood, which was founded in 1961, works with retail partners such as Target, Nordstrom, Dillard's, Kohl's and Costco, according to its website.
The company expects to begin renovations on its office space this summer with the first phase of staff relocations to begin in 2026, Osbrink added.

Staff relocations will occur over several years before Kellwood has moved its entire staff from its current headquarters in the City of Industry, California, to Phoenix by 2030.

...

The Monroe building was put up for sale last April for $24 million, the Business Journal previously reported.

...

Kellwood’s acquisition comes after Granite Point (NYSE: GMPT), a New York-based firm, took over ownership through a deed in-lieu of foreclosure in 2023 from Chicago-based GEM Realty Capital, according to previous Business Journal reporting.

...

Currently, the Monroe building is 20% occupied and the United State Postal Service is the largest tenant, Osbrink said.

I hadn't realized the previous owner lost the building in a deed-in-lieu. Last I remembered they were touting themselves as like a tech hub, but that was pre-COVID so I guess things went south.

[Obadno]

I didnt see any announcement for this but looks like Wexler Bldg 2 is coming:

7. Wexford Science & Technology has opened pre-leasing for 800 PBC, a 200KSF lab and innovation building at 800 N. 5th St. in downtown Phoenix. Designed to anchor the next phase of the Phoenix Bioscience Core, the project includes lab space, hospitality-style lobbies, conferencing areas and outdoor collaboration space. It follows Wexford’s earlier 850 PBC facility and is being leased by Wexford and Cushman & Wakefield.

https://azbex.com/local-projects/arizona-projects-06-27-25/

[apocalyptic0n3]

Was looking around Desert Ridge today. No photos but there is a 🞵🞵🞵🞵 load of work happening on Deer Valley, 56th, Mayo, and 64th.

1. Work has begun on the Sprouts HQ. Some early work on a garage is being done and the base for a crane has been installed
2. The Greystar property seems to be nearing exterior completion
3. There appears to be something going in on the other side of City North Drive from the Sprouts HQ (to the south). Anyone know what that is? Or is that Sprouts and I'm just confusing the map?
4. The Republic Services HQ is nearly complete
5. It looked like there was work happening at the future Azure Apartments site, but that may have just been staging for all the other City North construction going on
6. The site across 56th St from City North is finally being built out. That land was cleared like 2-3 years ago iirc and has just sat there. They've got plumbing installed and I saw a stack of blocks on site to start building out stairwell/elevator shafts
7. Next phase of The Luxe is speeding along. Starting to look like a building rather than a frame
8. Phase 1 of Elysium (new Garden Communities property at Deer Valley and Tatum) is complete. Construction has shifted to the east side of the property for Phase 2, which has some stairwells built already
9. Deer Valley is getting a ton of work. Several new left turns, all of the intersection signals have been replaced, and a new signaled intersection is being added at the Elysium entrance/Desert Ridge Marketplace entrance next to Jacksons

Slightly away from Desert Ridge:

1. Lots of activity going on at the Amex campus. Anyone know what is going on there? I seem to recall Amex wanting to build two of those buildings they put in right as COVID hit; is this its twin or something else?
2. This is old now (since April) but 64th St is now paved south of Mayo
3. The Brooks Sports Rehab facility is still working on the ground. Doesn't look vertical yet
4. The JLB mixed-use project on the northeast corner of 64th St and Mayo is finally making visible progress. They're working on site utilities and building out the ditch that will run through the middle of it.
5. Saw some workers across the street at the hotel being build on the southeast corner. Looked like surveyors and some utility guys (they may have been doing electrical for the surrounding construction)

Living in the area, all the construction has been frustrating. But super cool to see it all happening simultaneously

[TJPHXskyscraperfan]

So there is a gate around the parking lot next to Pomo Pizza, anyone knows of any plans there? Also, the crane went down today at Ray. Dirt is also finally moving on the sw corner of 3rd Ave and McKinley and the smaller project next to it is working on the second floor.

[xymox]

Originally Posted by apocalyptic0n3

Was looking around Desert Ridge today. No photos but there is a 🞵🞵🞵🞵 load of work happening on Deer Valley, 56th, Mayo, and 64th.

1. There appears to be something going in on the other side of City North Drive from the Sprouts HQ (to the south). Anyone know what that is? Or is that Sprouts and I'm just confusing the map?

That is additional apartments around the short garage behind current SproutsHQ. They were to build up the garage and wrap around the apartments IIRC.

[*] Lots of activity going on at the Amex campus. Anyone know what is going on there? I seem to recall Amex wanting to build two of those buildings they put in right as COVID hit; is this its twin or something else?

No idea what's going on there - but they have a lot of people involved and excavators on site. Maybe another garage? I don't think AMEX is hiring enough people to fill another building, but maybe consolidating from Vegas or some other smaller regional office is in the plans?

All I have to say is - I really hope that Mayo ultimately goes under or over L101 at some point to get to 40th St. Right now I dread driving on Tatum between the 101 and DV because it takes 15 minutes with all the traffic, lights and idiot drivers pulling out to the middle to turn left across a six lane road during rush hour...

[combusean]

I don't know what Phoenix and Scottsdale are doing waiting around to connect the various holes around there. You'd think they'd prioritize connectivity in a high-growth, higher-density area.

[apocalyptic0n3]

I've lived in Desert Ridge for more than a decade and agree fully. The growth expectations for the area do not align with the transportation changes and never have. It's really frustrating that if you want to go from Cave Creek to Scottsdale Road, you can take Bell, the 101, or 1 lane prone-to-flooding Pinnacle Peak. That's it. In more than 7 miles, those are the only roads connecting north Phoenix and Scottsdale.

And better yet, in that area the only roads that connect Bell to Pinnacle Peak (~6 miles) are Scottsdale, 56th, Tatum, and Cave Creek. So not only is it difficult to travel east-west, it's difficult to go north-south to access those few roads to boot.

A 101 closure during rush hour brings the entire north Scottsdale/Phoenix area to complete gridlock because there are so few connections.

Connecting Deer Valley to Scottsdale, 64th to Deer Valley (if not Pinnacle Peak) and Bell, and Mayo to Hayden (which is happening now) and 40th or Deer Valley should have been prioritized a decade ago. Instead, we've gotten a quarter mile of 64th, 1 mile of 56th, plus local-traffic-only extensions for Deer Valley and 64th (half mile each).

I'm sure another lane on the 101 will be good enough, though!

[Obadno]

Originally Posted by combusean

I don't know what Phoenix and Scottsdale are doing waiting around to connect the various holes around there. You'd think they'd prioritize connectivity in a high-growth, higher-density area.

Scottsdale doesn’t play nice with others