Opus Emerald Center will be located at the northeast corner of Interstate 10 and Warner Road. Opus West is eyeing a ground-breaking at the start of the year on the class A office building. The two-story project will be built on 25 acres that Opus purchased from the park developer, the Tait Family Trust, headed by Tom Tait.
"We think that is a great node," Keith Earnest, senior director of real estate development tells GlobeSt.com. "The traditional office corridors are moving a little bit. We think that's a great location for office development."
The site is adjacent to Interstate1 0 and within 10 minutes of Sky Harbor Airport. The acreage also has all the necessary infrastructure in place to attract tenants, including fiber-optic lines and dual feed-power lines.
Tempe and Phoenix, which are on the west side of the freeway, have a stock of homes that are worthy of any business owner or upper executives, Earnest says. "You've got big decision makers driving into Phoenix and may like their office to be closer to home," he says.
The Emerald Center is beginning to attract other developments, which will add more amenities to the park. Target plans to build a major center at the intersection of the freeway and Warner while a fitness center is plotting a project for 15 acres.
To date, most of Tempe's office development has centered around the CBD, the Rio Salado Project, which is still near Downtown, or the ASU Research Park at the southwest corner of Price Freeway and Elliot Road.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 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.
