February 7, 2020
Cousins Properties and Hines joined forces to begin development on 100 Mill, a $153-million, 287,000-square-foot, 18-story office tower in Tempe, AZ. Cousins has a 90% ownership interest in the downtown Tempe project, with Hines owning the remaining 10%.
Situated on 2.5 acres at Mill Avenue and Rio Salado Parkway, and adjacent to Cousins’ existing 1.3-million-square-foot Tempe office portfolio, 100 Mill is 44% pre-leased. The names of the tenants were not immediately available. Initial occupancy is expected in Q1 2022. CBRE is the leasing agent for the asset.
“We are thrilled to partner with Cousins on this new development in downtown Tempe,” said Hines’ Brandon Dillingham.” Added Colin Connolly of Cousins: “We are excited to partner with Hines and to break ground on this Class A trophy office building in the heart of downtown Tempe, where Class A vacancy is in the low single digits.”
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