SkySong 5 Tops 70 Percent Occupancy Months Before Completion

Leasing interest remains strong in the buildings at SkySong, with the newest building on the property achieving 73 percent occupancy months before opening.

With significant leases from Arizona State University — which is taking two floors in the six-story building — and companies including Berkadia and Limelight Networks, SkySong 5 already is nearly three-fourths leased while still under construction.

“We are very pleased with the interest in SkySong 5,” said Sharon Harper, President & CEO of Plaza Companies, the master developer of the project. “This dynamic building really illustrates the vision of innovation and technology that makes SkySong so attractive to companies.”

Plaza Companies is the developer of SkySong 5 and the master developer of the overall SkySong development, a public-private partnership with ASU University Realty, Holualoa Companies and the City of Scottsdale.

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SkySong 5 Welcomes Major New Anchor Tenant

Berkadia To Take Up Entire Floor in Newest Building at SkySong

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 building’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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Construction to Begin On Fifth SkySong Office Building

The fifth Class A office building will rise at SkySong, The ASU Scottsdale Innovation Center in the coming months.

With the other four SkySong office buildings at high occupancy, the SkySong development team will begin work on SkySong 5, with a groundbreaking ceremony to take place on July 9. The building will be six stories — the tallest on property yet — and will include a number of features that are new to the project.

With the newest building, the total SkySong project will reach about 868,457 square feet of commercial building.

The design of SkySong 5 includes extensive outdoor work and meeting spaces as well as public art features, and continues the trend at the property of each new building having unique and distinctive features, including a large second-story outdoor patio and event space. The cost of the building and the accompanying parking structure that will be built will exceed $43 million.

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