150,000SF Building to Break Ground

PHOENIX—Phase III of Scottsdale Quarter will break ground this summer.  Phase I and II of the mixed-use center, which sits on 28 acres at the southeast corner of Scottsdale Road and the Greenway-Hayden Loop, includes 370,000 square feet of upscale retail, restaurant and entertainment options and 203,000 square feet of class A office space. Following the initial groundbreaking of Phase III at the end of 2013 for the luxury residential component, Crescent Scottsdale Quarter, the final phase will continue with another groundbreaking scheduled in the summer of 2014 for a six-story, 150,000 square foot, contemporary, class A building, located at the southeast corner of the project. The new building will feature premier office space, above ground-floor retail and an additional parking garage for both tenants and visitors. The tower is expected to be delivered to market in the summer of 2015. CBRE has been awarded the marketing and leasing assignment for Scottsdale Quarter’s office space.

“With office occupancy currently at 100 percent and continued interest from both businesses and retailers to join the center, we are pleased to announce our partnership with CBRE to bring additional office tenants to the property,” said Marshall Loeb, president and chief operating officer at Glimcher Realty Trust, the developer.