Deal Completes Development Plans for 100 Mill, Project Now Fully Entitled
PHOENIX, Arizona – Hines, the international real estate firm, and Cousins Properties, an Atlanta-based REIT, have purchased 2.5 acres of land located directly on Mill Avenue in Downtown Tempe to develop 100 Mill, a project consisting of a 280,000-square-foot, 15-story class AA modern office tower and a hotel or multifamily tower. The Hines and Cousins joint venture has completed final entitlements for the site and is currently finalizing construction plans for the office tower.
“Hines is pleased to bring 100 Mill, an innovative and exciting project, to Tempe’s new skyline in partnership with Cousins Properties,” said Brandon Dillingham, director of development for Hines’ Arizona office. “We are embracing innovative trends in urban development to create a new landmark for Downtown Tempe.”
“Cousins is proud to be a partner in the 100 Mill project. We are thrilled to add 100 Mill to our best in class Downtown Tempe portfolio of Hayden Ferry Lakeside, Tempe Gateway and 111 West Rio,” said Will Creyer, vice president and local market leader of Cousins.
The joint venture has hired the CBRE team of Bryan Taute and Charlie von Arentschildt for office leasing. “We’re excited to be a part of the only office building currently being developed in Downtown Tempe and to continue our partnership with both Hines and Cousins. With direct access to light-rail, walkable urban amenities, recreational activities on Tempe Town Lake, world-class architecture and access to the best demographics in Metropolitan Phoenix, we’re excited to continue to attract best-in-class companies to Downtown Tempe,” says Bryan Taute, executive vice president of agency leasing at CBRE. For leasing inquiries, please contact Bryan Taute at (602) 735-1710.