Ryan Planning $22M Spec Office Building

SCOTTSDALE, AZ-After finding success with a 60,000-sf medical office building in Desert Ridge Corporate Center, Ryan Cos. is planning to break ground nearby on a 136,291-sf, class A office building. The six-acre project will get underway in early December.

Desert Ridge Corporate Center I, which will be located at the northwest corner of Tatum Boulevard and Loop 101, is the first phase of a three-building project, says Todd Holzer, vice president of development in the southwest for the Minneapolis-based developer. The structure will cost about $22 million to develop.

“We think there will be very good demand for this project,” Holzer says. “We are already getting strong activity and it hasn’t even broken ground yet.” Groundbreaking is scheduled for early December. The four-story building is expected to be completed in September 2005.