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Tempe Okays New Hines Office Development
The Tempe City Council recently approved The 250 Rio development, which will include 216,000 square feet of high-end offices and an accompanying parking structure. The project is hoped to be the featured development for residents coming into downtown Tempe. Texas-based Hines will develop the project.
The 14-story structure will try to maintain some of the historic features of the famous Ash Avenue, “We are looking forward to celebrating and activating the Ash Avenue roadbed and integrating it into 250 Rio in a way that will make it a historic community asset,” said Hines’ Brandon Dillingham.
Hines knows Tempe. Its 100 Mill, across the street was the first building in the state to draw lease rates of more than $50 per square foot. That building was 92% leased before it was completed.
