TEMPE, AZ - A $600 million office facility is coming to Tempe near the Arizona State University campus, the city announced Friday.
The land, leased from ASU, will be home to the largest office development in Arizona history, with more the 2 million square feet to be constructed on more than 20 acres.
The site is adjacent to ASU athletic facilities as well as Tempe Town Lake.
Developed by Ryan Companies US, Inc. and Sunbelt Holdings, its major tenant will be State Farm Insurance. It will also house retail services such as restaurants, coffee shops and fitness facilities.
"The jobs that will be created to make this project a reality will be a tremendous boon to our economy," said Gov. Jan Brewer in a statement.
The development will be subject to City Council approval next month.