EverWest Acquires 615 South River Drive - Jabil Circuit in Tempe, AZ
August 12, 2014
EverWest, in conjunction with their joint venture partner, CarVal Investors, is pleased to announce the acquisition and redevelopment of 615 South River Drive - Jabil Circuit (the "Property"). This 193,000 square foot manufacturing building which sits on 16.41 acres will be redeveloped into a highly desirable creative office space that will offer users parking densities unmatched in this submarket. The Property is located southwest of the Loop 101 and Loop 202 interchange, situated in the East Valley's Loop 101 Technology Corridor. The project is located one half mile away from the 1.3M square feet of retail at Tempe Marketplace and less than 2 miles from Arizona State University's main campus in Tempe. The renovated building is scheduled to be delivered to the market at the end of the first quarter in 2015. The project will be marketed by Jerry Noble, Ryan Bartos, and Jackie Orcutt with Cushman & Wakefield.
Curt Kremer, Managing Director, notes "We are excited about the opportunity this building will bring to the market. Upon completion of the renovations the property will offer high-tech creative office space with a 7:1000 parking ratio in a thriving and high-demand large user market".