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Great News! From our friends at the BizJournal #AF

Two Fortune 100 companies signed leases — including the biggest Class A office lease since the Covid-19 pandemic — at Rio 2100, a 60-acre mixed-use development in Tempe.

While CBRE and the Boyer Co., the developer of the project, did not disclose the name of one of the companies, a source familiar with the deal confirmed that Morgan Stanley signed a 43,975-square-foot lease, taking the full fourth floor at Phase V of the project.

The other new tenant, Siemens, a global automation technology company, signed a 7,823-square-foot lease on the first floor of the building and will occupy the space by the end of the year.

CBRE’s Bryan Taute and Charlie von Arentschildt, the exclusive leasing agents for the project, arranged the leases on behalf of The Boyer Co.

“The Boyer Co. is thrilled to welcome two Fortune 100 companies to the Rio 2100 community,” Adrian Evarkiou, partner at The Boyer Co., said in a statement. “These leases further validate the bet Boyer made on Tempe over five years ago, and we continue to see Tempe’s success through further development at Rio 2100 and down the street at I.D.E.A.”

Phase V, the newest building to be delivered, totals 170,680 square feet and includes an outdoor amenity area. The building has 118,600 square feet remaining for lease.

“Rio 2100 continues to be a top tier destination for tenants looking to capitalize on all that Tempe has to offer,” CBRE’s Taute said in a statement. “With abundant amenities adjacent to the project at Tempe Marketplace, easy access to the entire Valley at the interchange of the 101 and 202 freeways, and a convenient location within minutes of Downtown Tempe and Sky Harbor, Rio 2100 checks all the boxes. We hope to continue to attract premier tenants and up to 1,000 more employees to the project in the remaining 118,609 square feet in Phase V.”

The project’s first phase was completed in March 2017 and is fully leased to Varsity Tutors, MeltMedia, Mayo Clinic, American Vision Partners and SDC Clinical. The second and third phases were build-to-suits for Freedom Financial and the fourth phase was a build-to-suit for Benchmark Electronics’ new headquarters.