Search
 

First Phase Breaks Ground in 470,000-SF Project

PHOENIX-JVT Asset Management is pushing dirt on the 140,000-sf first phase to a 470,000-sf office project near Sky Harbor Airport. The class-A spec project should deliver in September.

By D.J. Burrough | Updated on May 02, 2001

PHOENIX-A Phoenix-based real estate investment firm has broken ground on a speculative development near Sky Harbor Airport that will have 470,000 sf of office space at build-out.

JVT Asset Management’s One Compass Center, a 28-acre mixed-use project, will include three 140,000-sf office buildings and a 150,000-sf one. Construction is under way on the first 140,000-sf, class-A, four-story office building in the Phoenix complex.

The speculative project should deliver in September, Denise Reed, general manager at JVT Asset Management, tells GlobeSt.com. Construction on the site’s second building will occur based on the leasing pace of the first structure. The space is expected to lease for $22.50 per sf to $23.50 per sf, with suites as small as 2,500 sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.