Capital Asset Management, a thrid-party full service real estate firm headquartered in Phoenix, is working on plans to develop a three story spec office building at the NEC of Loop 101 and 83rd Avenue in Glendale.
Phase 2 of the highly successful Glendale Northwest project, the new building is being developed on behalf of its client and new owner, AEK Property 7 LLC. Situated on 6.3 acres, the mixed use site currently includes 18,221 SF of high-end office and medical uses and 7,000 SF of retail. The office is now more than 90 percent leased.
Stephen Herman, Vice President with Capital Asset Management is overseeing the development of the site. “We have seen considerable demand recently for this type of higher-end product within the trade area and have already been fielding inquiries from prospective users. With a three story steel frame design, it will allow us to provide 12 foot clear heights and provide 5 per 1:000 SF of parking.”
Leasing is being handled by Rachael Cisco and Jason Hersker with Capital Asset Management. Construction is expected to commence at the beginning on Q1 2015 with a delivery date by Q3 2015. For more information, contact Capital Asset Management at 602-489-7990.