Creative isn't just for the coasts. Tech and other companies want it in greater Phoenix, especially Scottsdale, and they want it now.
“We’re seeing tremendous interest in Scottsdale from tech companies looking to expand their offices beyond San Francisco and New York to set down roots here," Stockdale Capital Partners managing director Dan Michaels tells us (more than a dozen Silicon Valley and Silicon Alley companies have opened operations here in the past 18 months). The main attraction, he says, is a deep pool of young, educated talent at a cost that's highly competitive with main CBDs—but the creative office space they crave currently doesn't exist to attract and keep that workforce. Still, Scottsdale's already got an advantage in the struggle to keep talent because it offers one of the best arrays of live/work/play amenities in the Phoenix metro, if not the state, Dan asserts.
Recently Stockdale unveiled plans for Marquee at the District, which will be 250k SF of office in Downtown Scottsdale featuring a number of creative office amenities, and enjoying the walkability of Scottsdale as well (a major part of creative office's appeal). Stockdale's already in discussions with several lead tenants who are interested. "Our Galleria property is 99% leased with tenants looking to grow, and so we feel confident in Marquee at the District,” says Dan. CBRE’s Bryan Taute will lease the project, which will break ground in Q3.
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