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July 21, 2019
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Hines and Cousins Properties Acquire Land in Downtown Tempe, AZ for Mixed User


Hines and Cousins Properties, an Atlanta-based REIT, have purchased 2.5 acres of land located on Mill Ave in Downtown Tempe to develop 100 Mill, a project consisting of a 280k sf, 15-story class AA modern office tower and a hotel or multifamily tower. The Hines and Cousins joint venture has completed final entitlements for the site and is currently finalizing construction plans for the office tower.

Photo: DAVIS
Photo: DAVIS
Cousins’ existing downtown Tempe portfolio includes Hayden Ferry Lakeside, Tempe Gateway and 111 West Rio, according to Will Creyer, vice president and local market leader of Cousins.

The joint venture has hired the CBRE team of Bryan Taute and Charlie von Arentschildt for office leasing. The team points out that the downtown Tempe area boasts direct access to light-rail, walkable urban amenities, recreational activities on Tempe Town Lake, world-class architecture and access to the best demographics in Metropolitan Phoenix.

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