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New business development for Tempe Town Lake
A major office project near downtown Tempe was announced Friday. The complex is part of a public-private venture and a Fortune 500 corporation will lease the space.
NADINE ARROYO RODRIGUEZ: City of Tempe and Arizona State University officials announced the construction of a $600 million office complex adjacent to the Tempe Town Lake. State Farm will lease the 20 acre land near the ASU Athletic Facilities District to develop more than two million square feet of office buildings. The Marina Heights project will be State Farm’s hub bringing in existing employees and new hires. The five building site will also include retail space and a public plaza. Mayor Mark Mitchell says this is the largest office development deal in Arizona’s history.
MARK MITCHELL: This is a good tell tale signs of things to
come in our community and we’ve had some exciting announcements over the last
month. So, we’re very excited. I think this is a great opportunity for us to
continue to move forward in the region.
ARROYO RODRIGUEZ: ASU President Michael Crow says the project will fund new and renovated sports facilities for the university. The project has to be approved by the Tempe City Council.