Welcome!

News Feed Item

International Development Group Selects Prime Tempe, Arizona Real Estate Opportunity After Unanimous City Council Vote

TEMPE, Ariz., Aug. 20, 2014 /PRNewswire/ -- On Thursday night the Tempe City Council voted unanimously to adopt an ordinance approving the sale of City-owned land and authorizing the Mayor to execute a deed and related documents necessary or appropriate to effect the sale and other transactions along its iconic Town Lake to a developer consortium that includes Phoenix-based TrendEx Holdings, LLC and its partner Hong Kong incorporated China International Development Investment Corporation Limited (CIDIC) and several internationally renowned global development firms.

The five city owned parcels known as "Pier 202" are located along the south side of Town Lake and east of Rural Road in the community that is home to the largest university in the United States and a Tempe, Arizona real estate market that is among the hottest in the Southwest. 

The development's vision has been created through a joint venture between USA and Chinese financial service businesses with intent to serve as a corporate headquarters for these and other international institutions including SOEs, financial institutions, commodities service providers and technology and service companies. The plans for the estimated $1.2 billion USD investment for the 2 million square foot project is comprised of 750,000 square feet of office space, 100,000 square feet of retail space, 400 condominiums, 150 apartments and approximately 240 rooms, of a 4 or 5-star hotel. The development plans to incorporate leading green sustainable technology similar to Shanghai Financial Center that represents the values of its international partners and to benefit the community at large.

The development project plans include the establishment of a world class International Financial Center (IFC) similar to Dubai International Financial Center and Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone. The IFC development will benefit the State of Arizona as the development becomes a major global financial services hub that will act as the linkage to strengthen the financial cooperation between the USA and China together with other international firms.

The businesses will add to the growing number of financial services businesses that have selected Tempe Town Lake for operations. Leading factors that resulted in the selection of this site by the group include the favorable business economics in the State of Arizona, close proximity to a major international airport, collaborative opportunities with local academia and high quality life style benefits. The proposed investments are keeping with Tempe Mayor Mark Mitchell's "Think Big" theme that was incorporated since taking office in 2012.  

"I have had the opportunity to work closely with the principals of this project and am pleased with the positive results the proposed project will have for not only the Tempe Community but for the State of Arizona at large," stated John Berry, Esq. of Berry Riddell and Rosensteel LLC.

CIDIC's President and CEO, Mr. Oswald Wong, expressed that the development, "represents a new era for Chinese financial industry in the North America. It is no longer a simple bilateral cooperation between two countries' financial institutions, but is also Chinas first opportunity to directly participate in the ownership and operations of a new financial center in North America. This opportunity along with related experiences is significant. More Chinese oriented US enterprises and US-oriented Chinese enterprises will benefit by and from this development. The IFC creates the opportunity to create many senior-to-medium level job opportunities to the US community. In return, the Chinese community will gain the opportunity to learn and directly participate in the financial structures and management skills from its US partners. Innovation will happen and business cultures will be exchanged."

"We are excited to be doing business with our Arizona partners and look forward to deploying substantial resources for a signature development in the dynamic Tempe market," said Alan Tay, CIDIC North America CEO who has visited the site and met with various members of the City leadership.

Further announcements will be made following the company's completion of its planned diligence over the next several months. 

SOURCE TrendEx Holdings, LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists looked at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deliver...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), provided an overview of various initiatives to certify the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldwide re...
Both SaaS vendors and SaaS buyers are going “all-in” to hyperscale IaaS platforms such as AWS, which is disrupting the SaaS value proposition. Why should the enterprise SaaS consumer pay for the SaaS service if their data is resident in adjacent AWS S3 buckets? If both SaaS sellers and buyers are using the same cloud tools, automation and pay-per-transaction model offered by IaaS platforms, then why not host the “shrink-wrapped” software in the customers’ cloud? Further, serverless computing, cl...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, discussed some of the security challenges of the IoT infrastructure and related how these aspects impact Smart Living. The material was delivered interac...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
It is ironic, but perhaps not unexpected, that many organizations who want the benefits of using an Agile approach to deliver software use a waterfall approach to adopting Agile practices: they form plans, they set milestones, and they measure progress by how many teams they have engaged. Old habits die hard, but like most waterfall software projects, most waterfall-style Agile adoption efforts fail to produce the results desired. The problem is that to get the results they want, they have to ch...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, Doug Vanderweide, an instructor at Linux Academy, discussed why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers wit...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...