Saxa, Caliber Team Up for Spec Project in N. Scottsdale
- Apr 25, 2015
Scottsdale-based SAXA Inc. and Caliber Cos. plan to break ground June 1 on Bahia 101, a 40,000-square-foot spec commercial office building in North Scottsdale. The project will rise on a 2.5-acre tract located south of Bell Road on Bahia Drive and is the first new Class A development in the Scottsdale Airpark area since 2009.
According to a statement, the office building is designed to accommodate either single-tenant or multi-tenant use. The developers’ options include selling the entire building, marketing office condos on three floors and leasing the property to multiple tenants. Completion is scheduled for January 2016.
“With lower vacancy rates, there’s a need for new high profile professional office buildings surrounding the Loop 101/Scottsdale Airpark employment base,” said Jim Keeley of Colliers International, who is marketing the project, in a statement.
“The delivery of this office building in early 2016 is ideal due to the absorption of space in older buildings that were built just prior to the 2008 recession,” Keeley added. “Many of these older buildings lack the new technology and conveniences that Bahia 101 will provide.”