Gilbert Breaks Ground on $750M Rivulon Development
“We’ll have three-million square feet of office space and half a million square feet of retail,” said Nationwide Realty Investors President Brian Ellis during the ceremony. “This site has the capacity to house upwards of fifteen-thousand jobs here.”
Council member Jenn Daniels said the site will double the capacity of office space in the community.
“For many years we’ve heard that we have world-class education, fantastic homes and neighborhoods, great businesses that have planted roots here and contributed to the community,” she said. “Our children and our grandchildren will be able to return home and have jobs and be able to live close to family and be able to live work and play in the community that they love.”
Mayor Lewis applauded the partnerships that helped make this development a reality, including Nationwide Realty Investors, the Arizona Department of Transportation, and Isagenix International, LLC, a health and wellness company that will move into a 3-story building on the site.
Nationwide Realty Investors to Celebrate First Phase of Development at $750 Million Rivulon in Gilbert
Master-Planned Development to Include More Than 3.5 Million S.F. of Commercial Space
GILBERT, Arizona—Columbus-based Nationwide Realty Investors will host an event today to celebrate the first phase of its $750 million Rivulon Development. Nationwide Realty Investors president Brian J. Ellis, Isagenix president Jim Coover, Gilbert Mayor John Lewis and other local and state leaders will be in attendance.
“We are thrilled to be underway with the first phase of construction of Rivulon and to be celebrating this important milestone with the community,” says Ellis. We would not be in the position we are today if the Town of Gilbert and its strong leadership had not fully embraced this project.”
Rivulon is a 250-acre, master-planned development at the corner of Gilbert Road and AZ 202 in Gilbert, Arizona. The project will include approximately 3 million square feet of premier office space, 500,000 square feet of integrated retail and restaurants, and hotels.
Health and wellness leader Isagenix recently announced that it will relocate its world headquarters to a 150,000 square foot, single tenant building at Rivulon. “We are extremely excited about our future home at Rivulon,” says Jim Coover, President and Founder of Isagenix. “Gilbert is a wonderful, thriving community and a great location for us to further our mission. Our company has grown significantly over the past few years. This new facility will ensure adequate space to meet our current growth needs while helping us plan for our future.” The building is expected to be completed by late 2015.
Also under construction at Rivulon is a 4-story, 125,000 square foot Class-A speculative office building and a 45,000 square foot LA Fitness. Plans will soon follow for two additional 60,000 square foot Class-A office buildings and a 17,000 square foot retail center to be included in this initial phase of the project. The LA Fitness is scheduled to open in March 2015.
“Rivulon is a reflection of the exceptional strength of our growing community,” says Gilbert Mayor John Lewis. “This development will create quality jobs, and will attract innovative and successful companies to our community and the region. And, it will have a significant economic and social impact in Gilbert.”
According to Ellis, Nationwide Realty Investors is focused on leveraging the region’s strong market conditions. “Gilbert is one of fastest growing communities in the country and this development’s location, visibility and access is generating a lot of demand,” says Ellis. “Development at Rivulon is moving very quickly. This project is happening and it is happening now.”
Rivulon is a 250-acre mixed-use developed located at the corner of Gilbert Road and AZ 202 in the heart of Gilbert, Arizona. The $750 million business district will include 3 million square feet of Class A office space and 500,000 square feet of retail and hospitality uses. Currently under construction is the three-story, 150,000 square foot world headquarters for Isagenix International, a four-story 125,000 square foot Class A speculative office building and a 45,000 square foot LA Fitness. Plans will soon follow for two additional 60,000 square feet Class-A office buildings and a 17,000 square foot retail center. The LA Fitness is scheduled to open in March 2015. For more information, visit: www.rivulon.com
About Nationwide Realty Investors
Columbus, Ohio-based Nationwide Realty Investors is the real estate development affiliate of Nationwide. Directly and through joint ventures, Nationwide Realty Investors owns more than $1.4 billion in real estate investments around the country. Nationwide Realty Investors has been active in Arizona since 1987 including the development of the Gainey Ranch Corporate Center in Scottsdale. Nationwide is a Fortune 100 company based in Columbus, Ohio and one of the largest and strongest diversified insurance and financial services organizations in the U.S. For more information about Nationwide Realty Investors visit: www.nationwiderealtyinvestors.com.