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.  

SCOTTSDALE, Ariz. (May 28, 2024) — SkySong, The ASU Scottsdale Innovation Center has experienced a flurry of leasing activity in recent weeks that has brought the project closer to capacity. 

Four new leases signed recently, all in the project’s SkySong 2 building, total more than 10,400 square feet. The five-year leases range in diverse uses, including:

• GH2 Architects signed for a 3,563-square-foot space. The Oklahoma-based company relocates from Mesa to SkySong 2. 

• Country Financial signed a lease for a 2,816-square-foot spec suite, one of the new spec suites recently built in SkySong 2. 

• CV3, a California-based financial services firm, signed for a 1,695-square-foot spec suite. 

• JCL Immigration signed a lease for a 2,339-square-foot spec suite in SkySong 2. The company is moving from another south Scottsdale location.

Sharon Harper, Chairman and CEO of Plaza Companies, the master developer of the project, said the new leases are a sign of SkySong’s resilience in a challenging commercial office market. 

“We’re very pleased to see this level of leasing activity and the interest that these companies have in SkySong and our spec suites,” Harper said. “SkySong continues to buck the trend when it comes to attracting companies interested in an office environment focused on innovation and entrepreneurship.”

Plaza Companies is the master developer of SkySong, in partnership with University Realty, the City of Scottsdale and Holualoa Companies. 

The new leasing activity brings overall occupancy rate of 91% at SkySong, a mixed-use project that has consistently led the market in occupancy for the past decade.

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.  

Banner Innovation Group, a department within Banner Health focused on purposeful and disciplined innovation, has leased a new space at SkySong.  Banner Health formed the Banner Innovation Group to innovate care delivery and business models, patient experiences, development of transformative partnerships and rapid scaling of solutions.

During the current public health crisis, Banner Innovation Group is partnering with public and private sector groups to meet the growing demand for supplies for health care professionals, including personal protective equipment, 3D printing of masks and face shields and gown manufacturing options. 

Banner Innovation Group had been looking at a presence in SkySong for months, but with their new 8,300-square-foot space in SkySong 2 now in place, they are able to collaborate with Plaza Companies and Holualoa Companies to meet the growing crisis. They also have an extensive relationship with Arizona State University which will expand over time as part of their presence at SkySong.

“Banner Innovation Group is committed to improving the quality of health care through purposeful and disciplined innovation and the relationship that exists between SkySong and ASU grants us access to some of the brightest minds in the industry,” said Banner Innovation Group Executive Director Christine Anderson. “In this time of crisis, the partnership between Banner Innovation Group, ASU and SkySong has been particularly beneficial.”

The new space for Banner Innovation Group consolidates two spaces that were on opposite ends of the Valley. 

“Not only does this exemplify what ASU and Plaza Companies envisioned for SkySong tenants, it serves as a great example of community leadership coming together in a time of crisis,” said Sharon Harper, Chairman and CEO of Plaza Companies. “Banner Innovation Group will play an important role in Arizona’s COVID-19 response and we are pleased to be able to support them now and in the future.”

“The SkySong team prides itself on being able to act quickly and be responsive to the needs of our tenants,” said Stan Shafer, Chief Operating Officer of Holualoa Companies, one of the partners in SkySong. “The kind of collaboration you’re seeing with Banner Innovation Group is one of the distinguishing features of SkySong.”

The Coppola Cheney Group of Lee & Associates, SkySong’s leasing broker represented the property ownership group. Banner Innovation Group was represented by Vicki Robinson of Jones LaSalle Lang in the SkySong transaction.

“We continue to be pleased with the growth and expansion at SkySong, and are looking forward to expanding our work with Banner Innovation Group,” said Sethuraman Panchanathan, executive vice president of Knowledge Enterprise and chief research and innovation officer at ASU. “We welcome Banner Innovation Group to the project, and are gratified to support their efforts to preserve public health and respond to the COVID-19 outbreak.”

Numerous Firms Expand Space Within SkySongâ€s Four Buildings; Innovation & Flexibility Within Project Key to Supporting Growth

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