Continued New Leasing Activity Bucks Office Trends in Metro Phoenix

SkySong, The ASU Scottsdale Innovation Center is seeing the benefits of its innovative approach with a flurry of new leasing activity. 

SkySong remains one of the Valley’s most dynamic and vibrant business hubs by consistently evolving to meet the needs of today’s businesses, startups, and professionals.

The headliner in the latest flurry of activity is a new lease by Yelp for a space in SkySong 4. SkySong has been pursuing Yelp as a tenant for several years and the project team is very pleased to finally have them as a partner. It’s also a sign that larger employers are returning to in-office work environments. 

Additionally, three other companies have renewed or expanded their presence in the project:

• Medicare Benefits Direct (dba Get Me Healthcare) is expanding from 3,714 square feet in SkySong 3 to 8,648 square feet in the building.
• Integrity Express Logistics (3,118 square feet) and Solugenix (2,093 square feet) are tenants in SkySong 1 and 3, respectively. 

With its unique combination of cutting-edge workspaces, walkable dining and entertainment options, premier hospitality, and residential opportunities, SkySong continues to thrive as a top-tier leasing option for companies and entrepreneurs seeking an innovative, flexible environment.

“SkySong provides an environment where innovation and lifestyle meet,” said Sharon Harper, Chairman and CEO of Plaza Companies, the master developer of SkySong. “The project continues to evolve and adapt, making it a one-stop destination for businesses looking to grow and succeed while also offering their teams an exceptional work-life balance.”

SkySong’s success lies in its mixed-use work-live-play model, offering tenants more than just office space. Businesses leasing at SkySong benefit from access to a range of on-site amenities that include walkable restaurants, retail spaces, hospitality services, and housing options – all designed to foster collaboration, creativity, and convenience. 

Tenants can enjoy a balance of professional workspaces and vibrant leisure spaces, with access to both indoor and outdoor gathering areas for meetings, networking, and social events.

The SkySong complex is also well-known for its close partnership with Arizona State University (ASU), giving tenants access to world-class academic resources, research initiatives, and collaboration opportunities with one of the nation’s leading public research universities. It was first imagined by ASU President Michael Crow and the City of Scottsdale in 2004.

This unique connection strengthens the innovative ecosystem that defines SkySong, fostering opportunities for businesses to partner with ASU researchers, hire talented graduates, and engage in collaborative projects that push the boundaries of innovation.

Currently, SkySong boasts an occupancy rate of 88 percent, a testament to its ability to continually attract new businesses while retaining long-standing tenants. The addition of residential units and hospitality options has bolstered SkySong’s appeal as a fully integrated community that caters to businesses, residents, and visitors alike.

As leasing demand continues to rise, SkySong remains committed to adapting its offerings to meet the needs of an evolving business landscape. From flexible lease terms to innovative office layouts, SkySong is designed to support the future of work, providing tenants with the space and resources they need to thrive in a fast-changing world.

Plaza Companies is the master developer of SkySong, in partnership with University Realty, the City of Scottsdale and Holualoa Companies. Plaza Companies provides development, financing, construction oversight, leasing renewals and expansions and property management at SkySong. The Coppola Cheney Group of Lee & Associates is SkySong’s leasing broker.

SkySong is a 42-acre mixed use development designed to:

• Create an ecology of collaboration and innovation among high-profile technology enterprises and related researchers.
• Advance global business objectives of on-site enterprises.
• Raise Arizona’s profile as a global center of innovation through the co-location of Arizona State University’s strategic global partners. 
• Create a unique regional economic and social asset.

Companies located at SkySong have the opportunity to partner with ASU, which has more than 145,000 students studying across four metropolitan Phoenix campuses, in Lake Havasu City, Los Angeles and Washington D.C. and online. ASU is one of the largest public universities in the nation, with the majority of its students attending its campus in Tempe, Arizona, less than three miles from SkySong. 

In addition to locating its own innovative research units at the center, through ASU’s on-site operations, tenant companies have a single point of contact for introductions to researchers, faculty and programs to address their specific needs.

For more information on SkySong, visit SkySong.com or follow developments on Facebook.  

Construction on SkySong 5 is just barely underway, but leasing activity for the building is heating up with a prominent national tenant signing on for an entire floor.

Berkadia,a joint venture of Berkshire Hathaway and Jefferies Financial Group, has signed a 10-year lease on a 21,000-square-foot space in SkySong 5 — the entire second floor of the project, located adjacent to the new buildingâ€s planned signature outdoor event patio. The space will be home to about 90 Berkadia employees.

Berkadia is a leader in the commercial real estate industry, offering a robust suite of services to multifamily and commercial property clients.

“SkySong is a great fit for Berkadia and an ideal location for our company to locate as we grow and expand in Arizona,” said Brett Adams, Senior Vice President with Berkadia. “The spirit of innovation and entrepreneurship at SkySong is well aligned with the Berkadia approach, and we look forward to being a part of the new building at the property.”

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