Spec Office Project to Begin Construction in 2019
Trammell Crow Company (TCC) Phoenix has unveiled plans for its newest development, Axis Raintree. The project will include a 175,000-square-foot, three-story, Class A speculative office building with a structured garage. Construction is scheduled to begin in October 2019 and will be completed in 4Q 2020. TCC acquired the 8.24-acre site, located at the southwest corner of East Raintree Drive and North 87th Street in Scottsdale, in April 2019“The Axis Raintree team has enjoyed working with the City of Scottsdale to design and deliver a best-in-class project that meets the needs of today’s office occupiers,” said Cullen Mahoney, a Vice President with TCC Phoenix. “We are excited to collaborate with CBRE on another speculative office execution in the Valley.”
The team of Bryan Taute and Charlie Von Arentschildt with CBRE Phoenix will serve as the exclusive leasing agents for the project.
“Axis Raintree will be the first Class A building to deliver in the Scottsdale Airpark submarket since the completion of Scottsdale Quarter Block M in 2015,” said Bryan Taute. “With only 255,000 square feet of new Class A space delivered in the submarket since 2010, this 175,000-square-foot Class A project presents an exciting opportunity to capitalize on high-quality, dynamic office space demand near major transportation corridors.”
“For the last few years, TCC has closely monitored office supply in metropolitan Phoenix with an eye toward identifying the best site in the best submarket to launch our next office project,” said Cathy Thuringer, Principal with Trammell Crow Company. “The Scottsdale Airpark and the Axis Raintree site both fit that bill and TCC is delighted to be moving forward on our next Class A office development.”
Designed by RSP Architects, the office building will feature 16’ deck-to-deck volume, expansive glazing, large efficient floorplates, several tenant amenity areas, structured parking and outstanding views of the McDowell Mountains.
The property is easily accessible from the Loop 101 Freeway, providing access to a deep, diverse labor pool. The area is also a leading retail destination with immediate adjacency to an abundance of retail amenities, proximity to Kierland Commons, Scottsdale Quarter and Scottsdale Promenade and features world-class resorts including the Westin Kierland, the Fairmont Scottsdale Princess and the JW Marriott Desert Ridge.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of September 30, 2020, TCC had $14.8 billion of projects in process and $5.9 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2019 revenue).
