PHOENIX—Stockdale Capital Partners has announced plans to break ground in the third quarter on Marquee at the District, a new 250,700-square-foot class A creative office development in Downtown Scottsdale. Located just southeast of the intersection of Scottsdale and Camelback Roads, adjacent to the Galleria Corporate Centre and within steps of Downtown Scottsdale's entertainment district, Marquee at the District will be a signature project within Scottsdale's rapidly emerging downtown tech cluster.

More than a dozen Silicon Valley and Silicon Alley companies have opened operations in Scottsdale in the past 12 months and more have signaled their intent. Stockdale expects the demand from tech tenants wanting office space will only accelerate as users look for value alternatives to the high-cost of hiring and growing in markets such as San Francisco and New York. The lack of modern office supply with creative office amenities in the submarket creates a need that Marquee at the District seeks to meet.

Dan Michaels, managing director at Stockdale, tells GlobeSt.com the company fielded many calls looking for tech space in Old Town: “We got calls from San Francisco and Los Angeles with a lot of interest, but they were just not finding the space that met their requirements. We have the location and design to garner that pull of tech-oriented tenants. They are all looking for that live, work, play environment. There are 5,000 new multifamily units coming online, Scottsdale has the play environment covered and now, with Marquee at the District, we'll have the work requirement in place. In Scottsdale right now there is literally not enough space to fill the demand. Tech tenants want large footprints and that type of space doesn't exist. We are already in discussion with tenants. Marquee is great for the city, it's great for tenants and it's great for employees. The evolution of Scottsdale is real; it's happening.”