COLUMBUS, Ohio, July 17, 2014–Columbus-based Nationwide Realty Investors announced today that it has signed a lease with Arizona based health and wellness leader Isagenix International, LLC to occupy a 3-story single-tenant building at its master-planned Rivulon development in Gilbert, AZ. Also completed is a land swap agreement with LA Fitness. Nationwide Realty Investors President and COO Brian J. Ellis made the announcement.
The Isagenix lease agreement launches the first phase in the 250-acre Rivulon development located at the corner of Gilbert Road and the AZ Loop 202. The 150,000-square-foot building for Isagenix is scheduled to be completed in late 2015 as part of the approximately three million square feet of Class A office planned for the project.
“We are excited to kick off the first phase of development at Rivulon with the construction of three new buildings and significant infrastructure improvements,” said Ellis. “The commitment by Isagenix to locate their worldwide headquarters at Rivulon allows us get construction underway and will begin to establish Rivulon, and the Gilbert market, as a best of class business district.”
“We are extremely excited about the future new home for our worldwide headquarters,” said Kevin Adams, chief executive officer of Isagenix. “Gilbert is a wonderful, thriving community within the greater Phoenix area and is a great location for us to further our mission. Additionally, as 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 4-story, 125,000 square foot speculative office building originally planned for this site, will shift slightly east, and be located adjacent to the Isagenix building on the AZ Loop 202. Construction on the speculative office building will begin in the second half of 2014 with anticipated completion in fall 2015.
Gilbert, Arizona is a committed partner in the Rivulon project. “Nationwide Realty Investors has an outstanding reputation for high-quality developments and we are proud to have an excellent relationship with them as they develop premier first-class office space at Rivulon that will enhance Gilbert’s central business district,” said Gilbert Mayor John Lewis.
Isagenix is represented by Pat Williams and Andrew Medley of Jones Lang LaSalle and Nationwide Realty Investors is represented by Fred Darche and John Cerchiai of Lee & Associates.
Nationwide Realty Investors has also agreed to a land swap deal with LA Fitness to allow for an LA Fitness facility to be built adjacent to the Isagenix building. The fitness facility will serve as a key amenity for Rivulon tenants and residents. Construction of the LA Fitness building will begin this month, with anticipated opening in March 2015. LA Fitness is represented by Walt Brown of Diversified Partners and Nationwide Realty Investors is represented by Fred Darche and John Cerchiai of Lee & Associates.
“We are excited about the progress of this development and the recent office and retail commitments,” said Gilbert’s Office of Real Estate and Economic Development Director Dan Henderson. “Rivulon is a key part of the community’s long-term growth and sustainability.”
About Rivulon: Rivulon is a 250-acre development which will include approximately 3 million square feet of Class A office, 500,000 square feet of retail, and hotels. Rivulon will be designed with a holistic view of the site, ensuring a cohesive flow, compatibility of uses and sensitivity to the sustainability of resources. Rivulon is owned by a single developer, Nationwide Realty Investors, a financially strong organization with a proven track-record of successful, mixed-use developments. For more information visit: www.rivulon.com.
About Nationwide Realty Investors: Nationwide Realty Investors is the real estate development affiliate of Nationwide Mutual Insurance Company and the developer of the Arena District and Grandview Yard in Columbus, Ohio. Directly and through joint ventures, Nationwide Realty Investors owns more than $1.4 billion in real estate investments around the country. For more information visit: www.nationwiderealtyinvestors.com.