Discovery Business Campus
From GlobeSt.com Posted March 18, 2014
The Price Road Corridor is one of the hottest commercial sectors in the Valley Metro area. And with the area 50% built out, a tipping point is not in sight. With the sector employing more than 35,000 people and expectations for 75,000, the sector is also a contributing factor to making the surrounding areas like Chandler, Tempe, Mesa and Gilbert some of the Valley’s most desirable places to live.
The Price Road Corridor is bordered by Ray Road to the north, Ocotillo to the south, Dobson to the east and McClintock to the west. It’s surrounded by high-end retail, and single and multifamily housing.
“The origin of Price Road was high tech,” Dave Seeger, managing director for JLL in Phoenix, told GlobeSt.com. “We had Microchip and Intel. The original tenant roster was all high tech. And this was before the 101 freeway and the Chandler mall. This was 15 to 20 years ago.”
Seeger says after the retail and freeway were added, the area became a major attractor for employers seeking a young, educated workforce.
A bevy of deals over the past month have involved the Price Road Corridor—most notably perhaps is the $51.75 million sale of the Continuum Business and Technology Park, the former Motorola campus. The campus consists of a 463,300-square-foot, class A office building on 152 acres.
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