Cousins Properties and Hines have commenced development of 100 Mill, a 287,000-square-foot, 18-story office tower in downtown Tempe, Ariz.
Cousins has a 90 percent ownership interest, and Hines has a 10 percent ownership interest in the joint venture developing the project.
Located on the southwest corner of Mill Avenue and Rio Salado Parkway and adjacent to Cousins’ existing 1.3 million-square-foot Tempe office portfolio, 100 Mill is now 44 percent pre-leased, with two long-term lease commitments from a Fortune 100 company and a professional services firm.
Initial occupancy is expected in first quarter 2022. Total development cost is anticipated to be approximately $153 million.
