Tempe Bargain at $92.5 Million?

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Real Estate Agent with Realty Executives

I was a little surprised that SunCor decided to sell one of their two office towers at Hayden Ferry Lakeside to New York based Sumitomo corp. While some of the projects in and around the Mill Avenue District have been delayed, canceled or had different "financing issues" come up, the Hayden Ferry project is one that seems to have it all. Great location, great views, easy access to freeways, the airport and the upcoming light rail line etc.. The project is a wonderful mix of commercial and residential uses.

The commercial building that has been sold has a decent tenant in Smith Barney. Several other high profile tenants include KPMG, MetLife and the new corporate offices of Fidelity National Title. Fidelity decided to lease the entire 11th floor, leaving the posh 24th / Camelback location for this awesome area. Believe me, the management group at Fidelity knows a thing or two about real estate. The $92.5 million price tag is a lot of money but given the demand for the area, the growth and excitement surrounding the Mill Avenue District and the future developments that SunCor has talked about in the area, this might end up being a great deal for all involved. These "New Yorker's" are not exactly new to town. In fact, they recently sold out of the Phelps Dodge Tower in Phoenix prior to picking up this trophy property along the Tempe Town Lake. If you haven't seen these buildings, they are worth a look. The following pic is one I took in the lobby of the Hayden Ferry building. The lobby was designed with a really cool nautical theme where you feel like you are looking through the hull of a ship. :-)

Hayden Ferry lobby

Here, you can see the homes currently for sale at Hayden Ferry. These buildings are just East of the commercial buildings.

 

The lifestyle along Tempe Town lake and in and around the Mill Avenue District is changing drastically. This is a growing, vibrant community with excellent access to amenities..

To Live, work and play, our great city is hard to beat! Tempe is very centrally located with easy access to our freeway systems and to the airport. Here, you will find some amazing housing opportunities, a great arts community, wonderful restaurants, great schools, lot's of different jobs, enthusiastic sports fans and a wonderful lifestyle in an amazingly convenient location that is close to many of the things our great state has to offer.

If you have any questions about the community of Tempe Arizona, please feel free to visit our web site at http://www.nickbastian.com/ or feel free to call us at 602-803-6425 or toll free at 1-888-343-6425.

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Nick Bastian is a Tempe real estate agent specializing in the South East Valley and can be reached at 602-803-6425

Nick also writes a "hyper-local" blog about the communities, events, businesses and homes near light rail in Phoenix, Tempe and in Mesa.
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Tags:
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Rainmaker
685,234
Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

Absoutely! There is just no place like Tempe and *this* is the plum location for all the reasons you state. I'm wondering if they (SunCor) have their eye on more land nearby.

Jun 29, 2008 04:09 AM #1
Rainmaker
213,689
Nick Bastian
Realty Executives - Tempe, AZ
Real Estate Agent - Tempe

Hi Chuck.. I had lunch with the President of SunCor Financial recently and it is my understanding that they now control the entire south side of the lake. (less this building that was sold) Sounds like much of it will be commercial projects of tremendous value to the region. Our little city is really growing up. :-)

Jun 29, 2008 05:42 AM #2
Rainmaker
685,234
Chuck Willman UtahHomes.me
Utah Homes - Alpine, UT
Utah Homes

Definitely... I've been a big fan of the town lake from day one... it has enhanced the city in a major way.

Jun 30, 2008 08:39 AM #3
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Rainmaker
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Nick Bastian

Real Estate Agent - Tempe
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