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Phoenix & Southwest  + Office  | 

Ascentris, Cypress Claim Novus Innovation Corridor Tower

Denver-based Ascentris, in partnership with San Diego-based Cypress Office Properties, LLC, acquired 777 Tower at Novus in Tempe. The six-story Class A office building totals 161,000 square feet and was sold by developer and builder, Ryan Companies, along with JV partner University Realty LLC. for an undisclosed amount.

Ascentris’ Jeffrey Stonger says, “We are excited to establish a long-term partnership with Arizona State University and together capitalize on its industry-leading public-private development of the Novus Innovation Corridor.”

777 Tower at Novus was constructed in 2020 and is currently 83% leased to Arizona State University and IT services and consulting firm Infosys Limited. It is the first office building to be delivered in the Novus Innovation Corridor, a 355-acre planned mixed-use, public-private development between ASU and Catellus. The mixed-use district in north Tempe will consist of 11 million square feet of office, residences, hotel, and retail at full buildout.

JLL’s John Bonnell and Ryan Timpani are handling project leasing.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition