By Dave McMinn
Something interesting is happening in our neighborhood. Amidst all the new houses, new stores, and new restaurants, there’s a corporate culture quietly taking shape (if you can call 300,000 square feet of office space “quiet”). Just south of Happy Valley Road and 23rd Avenue is the site of a forthcoming office and retail center to be known as The Nursery. It’s the latest offering from CBRE – commercial land developers with a significant footprint in Arizona.
The Nursery will be home to three Class-A office buildings ranging from 1-3 stories tall, featuring 2,100 parking spaces integrated with what the developer refers to as “tasteful landscaping.” The renderings on the website for The Nursery appear to support that claim. Nearby neighbors will appreciate the modest height of the buildings – no skyscrapers here. That’s great news for all who enjoy our fantastic mountain views. Incorporating a bit of forward thinking, the campus will feature lots of guest parking, a flow-through lobby design, and even rideshare queue areas.
On the retail side, there will be four Class A, one-story buildings which can accommodate both retail and restaurant tenants. Plans include nearly 300 parking spaces, prime frontage on 23rd Avenue, and the built-in customer base from the adjacent office buildings. The design will allow for various configurations, including drive-thru and patio restaurants.
Developers are banking on the site’s proximity to the very busy I-17, as well as the population-dense surrounding community to draw in tenants and customers. For anyone who’s ever called out for more shopping and dining options in our community – here it comes!
Official construction dates have not yet been released. Details, site plans, renderings, and leasing information can be found at thenurseryaz.com.
What does “Class A” mean when it comes to office space?
In commercial real estate, office buildings are given as designation of A, B, or C. While the criteria can be somewhat imprecise, it mostly follows the pattern of letter grades you got in school. Class A buildings are the best looking, highest quality, and newest office buildings. Location is excellent, management is top notch, and tenant access is easy. Class B is step below, but usually contain good quality tenants (and management). Oftentimes a Class B building is just one renovation away from that coveted A-rating. Class C buildings are often older, more run-down, and lacking in technology and amenities. Rent is cheap, but so is a wrecking ball. Class C might not be the ideal place to start a business.
