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.
“Growing technology companies want cheaper options that offer the same space and walkable amenities found in downtown Scottsdale which are conducive to attracting the most talented work force,” said Stockdale’s Sean Blitz. “We have received strong indications that a new, creatively-focused development is badly needed downtown and, in fact, are already in discussions with several lead tenants.”
Marquee at the District is a key component in the continued development and positioning of downtown Scottsdale as a prime urban market for major employers and employees alike.
The City of Scottsdale’s local leadership, also invested in this endeavor, cites robust commercial real estate investment in Scottsdale which can be seen in the 130,000 square-foot expansion to Scottsdale Fashion Square mall, as well as numerous new high-end multifamily developments representing over 5,000 units.
“Downtown Scottsdale is a unique and vibrant location for corporations that embrace a strong live-work-thrive lifestyle,” said Scottsdale Mayor W.J. “Jim” Lane.
“We believe that companies such as Yodle, Zenefits, Weebly and others are choosing Scottsdale due to our community’s commitment to providing its citizens with a higher quality of life, strong workforce and investment in a high-tech infrastructure.”
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