SunCor Jump-Starts Plan for 250,000-SF Tower

TEMPE, AZ-Two leases, totaling 44,649 sf, have pushed occupancy at Hayden Ferry Lakeside’s 300,000-sf Tower II to 90% a little more than one year after its completion. Because of demand, owner SunCor Development Co. is planning the next office tower in the 41-acre mixed-use project.

Tower II’s newest tenants are Fidelity National Title Insurance Co., which is taking 23,500 sf in a seven-year lease, and MetLife Inc., which is leasing 21,149 sf for 10 years. Fidelity, set to occupy the entire 11th floor in the coming weeks, will consolidate several Phoenix-area offices. MetLife is taking most of the sixth floor for a new sales office, with move-in scheduled for September. The quoted lease rate for Tower II in the 43-acre project at 60 E. Rio Salado Parkway is in the low $30 per sf range.

Tom Knoell, project manager of commercial development for the Tempe-based developer, says there are multiple prospects interested Tower II’s remaining space. “More space than we have at this time,” he says. The original time frame for lease-up was 30 months from completion so Tower II is well ahead of schedule.