Holualoa’s acquisition of this Class A office project provides our investors with strong cash flow and upside resulting from the quality of the property, a dynamic location. Our partnership with the Arizona State University Foundation in this investment will allow us to leverage the economic power of the largest university in the U.S. to drive continued tenant demand for the property.
SkySong, the ASU Scottsdale Innovation Center, is home to a global business community that links technology, research, education and entrepreneurship to position ASU and Greater Phoenix as global leaders in the knowledge economy. Organized around a central plaza with its signature shade structure, SkySong is a 1.2 million-square-foot mixed-use development located on a 42-acre campus in Scottsdale. A joint venture among ASU, the ASU Foundation, and the Plaza Companies, SkySong is three miles from ASU’s research-intensive Tempe campus and 15 minutes from Sky Harbor International Airport.
In 2005, the agreement was reached to develop the site. In 2008, SkySong 1 and 2 were completed.
SkySong 1 and 2 is a 290,000-square-foot, two-building, Class A, LEED-certified office property. Together they are the largest privately-funded LEED-certified project in Arizona, receiving a LEED Silver designation from the United States Green Building Council.
SkySong 3, a 140,000-square-foot Class A, LEED-certified office building designed by award-winning architectural firm Butler Design Group, opened in January 2015.
SkySong 4, a 145,000-square-foot Class A, LEED-certified office building designed by award-winning architectural firm Butler Design Group and opened in November 2016.