{"id":1004103700,"date":"2014-09-13T07:47:59","date_gmt":"2014-09-13T15:47:59","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=291169"},"modified":"2021-05-14T19:17:27","modified_gmt":"2021-05-15T03:17:27","slug":"lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2\/","title":{"rendered":"Lease Deal Paves Way for $350M USA Place Project in Tempe"},"content":{"rendered":"

By Liviu Oltean, Associate Editor<\/em><\/p>\n

\"\"<\/a><\/p>\n

Susan Eastridge, CEO of Concord Eastridge<\/p>\n<\/div>\n

In a milestone for the $350 million USA Place project in Tempe, the developers and Arizona State University officials have reached agreement on a 99-year lease for a site near the school’s campus. The deal paves the way for a December groundbreaking.<\/p>\n

Located on an 11-acre site on the east side of Mill Avenue, USA Place will consist of a 220-room Omni Hotel, a 4,500-seat event center, a 30,000-square-foot conference center, 500 luxury apartments, 160,000 square feet of retail, and up to 200,000 square feet of office space, as CPE reported<\/a> in August 2013. USA Place will also be the future headquarters of USA Basketball, the national governing body for men\u2019s and women\u2019s basketball.<\/p>\n

The development team, USA Place L.L.C., is led by Susan Eastridge, CEO of Concord Eastridge; Michael Hallmark, co-founder of Future Cities, the project\u2019s master planner; and Robert Harris, CEO of Harris Sports & Entertainment. \u00a0Their initial plan was a phased build-out, but that is no longer the case, as the The Arizona Republic<\/em><\/a> reported.<\/p>\n

\u201cThis is an exciting and an incredible opportunity that offers nothing but positives for USA Basketball,\u201d said USA Basketball chairman Jerry Colangelo in an statement. \u201cUSA Place will offer USA Basketball an excellent site for the development of its office headquarters, a training center and event center that will provide the organization with a first-class site for hosting junior level events and will allow USA Basketball to continue to evolve.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

In August 2013, Commercial Property Executive reported on USA Place, a $350 million mixed-use project to be developed near Arizona State University in Tempe. After more than a year of planning, the project is moving forward as the developers managed to come to an agreement with ASU for a 99-year lease for the use of 10.7 acres located on the east side of the historic Mill Avenue.<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1601],"tags":[],"class_list":["post-1004103700","post","type-post","status-publish","format-standard","hentry","category-latest","category-phoenix"],"acf":[],"yoast_head":"\nLease Deal Paves Way for $350M USA Place Project in Tempe - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lease Deal Paves Way for $350M USA Place Project in Tempe\" \/>\n<meta property=\"og:description\" content=\"In August 2013, Commercial Property Executive reported on USA Place, a $350 million mixed-use project to be developed near Arizona State University in Tempe. After more than a year of planning, the project is moving forward as the developers managed to come to an agreement with ASU for a 99-year lease for the use of 10.7 acres located on the east side of the historic Mill Avenue.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-09-13T15:47:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T03:17:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/09\/Susan-Eastridge-CEO-of-Concord-Eastridge.png\" \/>\n<meta name=\"author\" content=\"Liviu Oltean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2\\\/\"},\"author\":{\"name\":\"Liviu Oltean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/a12696609e74785a9cb5f8f7eae8bbd0\"},\"headline\":\"Lease Deal Paves Way for $350M USA Place Project in Tempe\",\"datePublished\":\"2014-09-13T15:47:59+00:00\",\"dateModified\":\"2021-05-15T03:17:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2\\\/\"},\"wordCount\":262,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/09\\\/Susan-Eastridge-CEO-of-Concord-Eastridge.png\",\"articleSection\":[\"News\",\"Phoenix\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lease-deal-paves-way-for-350m-usa-place-project-in-tempe-2\\\/\",\"name\":\"Lease Deal Paves Way for $350M USA Place Project in Tempe - 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