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Amazon leases in downtown Tempe for tech hub expansion

100 Mill (Photo courtesy of Cousins Properties)

Amazon has leased approximately 95,000 square feet at Cousins Properties’ 100 Mill development project to accommodate its Phoenix Tech Hub expansion. 100 Mill is a 287,000-square-foot, 18-story office tower located in downtown Tempe.  Total development costs are anticipated to be approximately $153 million and initial occupancy for the building is expected in the first quarter of 2022. Cousins has a 90% ownership interest and Hines has a 10% ownership interest in the joint venture developing the project.

Amazon also leases additional space at Hayden Ferry, Cousins’ existing office property adjacent to the 100 Mill site, and will expand into 100 Mill as they continue to grow in the city. Amazon’s lease at 100 Mill was executed before Cousins originally announced the commencement of development in February 2020. 100 Mill is currently 44% pre-leased with long-term lease commitments from Deloitte as well as Amazon.

“We are excited that Amazon has selected our office project at 100 Mill for their expansion plans in Phoenix,” said Colin Connolly, President and Chief Executive Officer of Cousins Properties.  “Their decision to continue investing in new space validates the long-term value proposition of modern and well-located office properties for both companies and employees.”