Major Leases Signed at Two $1B Developments in the East Valley
June 9, 2022Article originally published by Phoenix Business Journal | Angela Gonzales
Tenant leasing activity is revving up in a big way for Nationwide Realty Investors in metro Phoenix — most recently attracting two huge publicly traded companies.
Tech Data Corp. (NYSE: SNX) has secured a 52,000-square-foot lease in the 410 Commons building at Rivulon, Nationwide Realty’s $1 billion development in Gilbert, while Meritage Homes Corp. (NYSE: MTH) is moving its Scottsdale corporate headquarters to Nationwide Realty’s $1 billion Cavasson development at the northwest corner of Loop 101 and Hayden Road in Scottsdale.
Clearwater, Florida-based Tech Data Corp. — which employs 14,000 people worldwide and is named one of Fortune’s World’s Most Admired Companies — plans to move into the Rivulon space early next year, said Brian Ellis, president and COO of Nationwide Realty Investors.
Tech Data will take the entire second floor of The Commons, one of the four buildings at Rivulon, a 300-acre development along Loop 202, bounded by Gilbert, Lindsay and Pecos roads.
With about 800,000 square feet developed, more than 3 million square feet of office are planned there.
“We’re in design for another 100,000-square-foot building and we have a couple of other buildings that are more like 160,000 square feet each that have been designed as well,” Ellis said. “We’re seeing significant level of activity there.”
