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hree high profile organizations – eFunds Corporation, Wildfire Broadband Communications, Inc., and Arizona State University – are among the first tenants at SkySong, a powerful, 21st century business location designed to create an environment that will facilitate the commerce of ideas for this century's global economy. SkySong will be a mixed-use project consisting of 1.2 million square feet of office, research and retail space at full build-out, as well as multi-family residential units and a hotel/conference center on its 37-acre site in the heart of Scottsdale, Arizona. It will link technology innovation and entrepreneurship for a variety of participants, including global technology-focused businesses, tech commercialization organizations, investor and financial services, and business support services. Phase I, consisting of 300,000 square feet of office, retail and research space, broke ground in January.
   SkySong is strategically centered between downtown Scottsdale, one of the most desirable communities in the Southwest, and the main campus of Arizona State University in Tempe, the country's 4th largest university with extensive research capability, over 61,000 students (with nearly 10,000 pursuing engineering/design/science-related degrees) and a diverse annual research portfolio of approximately $183 million. The project is close to abundant recreational, residential and cultural and entertainment opportunities and venues, exceptional schools, major transportation corridors, and Sky Harbor International Airport.
   Higgins Development Partners and the Plaza Companies are co-developers of the project in partnership with USAA Real Estate Company and Arizona State University Foundation. It is the unique relationship with ASU that sets the center apart from a traditional research or business park. Partnerships with ASU and networks between the project's tenants and the university will provide economic enrichment and access to far-reaching sources of information, research, and a reservoir of knowledge-based employees.
   "The center has every indication of meeting our development objectives for the creation of a center for technological innovation, cross-disciplinary collaboration and entrepreneurial ventures," says Pat Duncan, President and CEO of USAA Real Estate Company.
   ASU will occupy a minimum of 80,000 sq. ft. of space related to entrepreneurship, applied engineering, educational technology and innovations in Arts, Media and Engineering. In addition to locating its own innovative research units at the center, ASU will provide SkySong tenants with direct access to relevant research, educational opportunities, cultural events and recreational facilities on its campuses. Through ASU's on-site offices, tenant companies will have a one-stop point of contact for:
   • Introductions to researchers, faculty and programs which address specific interests.
   • Facilitated access to student and graduate workforce.
   • Discounted tickets, library cards, greens fees, and recreational facility access at ASU staff rates.
   • On-site lectures, symposia and entertainment featuring talent at ASU to facilitate meaningful interaction among SkySong enterprises and ASU at large.
   • Customized executive education programs delivered on-site at preferred corporate rates.
   The SkySong name was inspired by the dramatic appearance of the facility's focal point – the SkySong ornamental shade structure soaring 125 feet over the intersection of the European-inspired central plaza. SkySong was designed and named by Harry Cobb, the project's lead architect from the internationally renowned firm of Pei Cobb Freed & Partners. SkySong's shaded and landscaped pedestrian-friendly boulevards have street-level retail, lush native landscaping, water features, public gathering places and open spaces where residents and tenants can work, live, and interact. SkySong is linked to some of the area's most outstanding recreational amenities by connecting trails and bike paths.
   In addition to securing leasing commitments from eFunds, Wildfire Broadband, and ASU, CB Richard Ellis has been engaged to make other major corporations aware of the opportunities available only at this site.
   "SkySong is a project like none other we've seen," says Duncan. "The ability of university officials to envision a project of this magnitude and recognize how it will benefit the entire area is to be applauded. The key to success was their willingness to collaborate with a diverse but capable team of developers, financial backers and construction companies in creating a model development for the world."
   USAA Real Estate Company has more than $3 billion in assets under management and provides acquisition, build-to-suit and development services for corporate and institutional investors. The USAA Real Estate Company portfolio consists of office, industrial and hotel properties as well as investments in real estate operating companies. The company's annual volume of transactions is in excess of $500 million.