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Valley's Office Market Added 800,000 SF in 2002

PHOENIX-Nearly 800,000 sf in three office projects came on line last year and three more totaling 332,000 will be unlocking doors in the coming months. The 230,000-sf Camelback Explanade V was the largest to deliver in 2002.

By Beverly Ford | Updated on January 02, 2003

PHOENIX-The 12-story Camelback Esplanade V added 230,000 sf of office space to the Phoenix skyline last year to become the largest office project completed in the Valley during 2002.

Named “Project of the Year” in the Phoenix area by the National Association of Industrial and Office properties, the post-modern office tower at 2520 E. Camelback Rd. was developed by Opus West as part of a five-tower high-rise project known as Camelback Esplanade. The project, which began construction in 2000, became home to Merrill Lynch Payne Webber when it opened its doors in March.

The Hayden Ferry Lakeside project, one of the first commercial developments on Tempe Town Lake, became the second largest project to open in the Valley last year with 208,000 sf of office space. Located on the lake’s south shore at Rio Salado Drive, the building’s major tenant is Suncor, which developed the mixed-use property on 17 acres of land.

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