The long-awaited Marina Heights development along Tempe Town Lake has taken another step towards groundbreaking, according to a statement released Friday by the City of Tempe. If development deals are finalized by the City Council in June, the 2 million-sq-ft, 20-acre project will be the largest office development deal in Arizona history.
Ryan Companies US Inc. of Phoenix, and Sunbelt Holdings, Scottsdale, Ariz., will develop the site owned by Arizona State University, adjacent to the Hayden Ferry Lakeside development completed in 2007. State Farm will lease office space and anchor the multi-use development.