Nationwide Realty’s incoming Rivulon development project will take up a lot of space in Gilbert.
In fact, it will almost double the town’s office space, and, if things go as projected, include a little bit of everything within its 3.1 million square feet.
Adjacent to the Loop 202 (Santan Freeway) and sandwiched between Gilbert and South Lindsay roads in Gilbert but along the precipice of Chandler, the Rivulon project features ample space for office and retail businesses and opportunities for the town developed by the Columbus, Ohio-based international development firm.
“These large-scale, mix-used projects are something we excel at,” said Nationwide Realty vice president of marketing Tina Guegold.
The goal over the next 10 to 20 years is to create what she called an “interdependent” environment, with the office space providing a consistent customer base for restaurants and retailers, where each segment of the development supports one another. Guegold said Nationwide Realty also plans to incorporate a hotel onto the site, as well as part of what town economic development director Dan Henderson called a “mixed-zoning” project.
Longer term, Guegold said Nationwide Realty might incorporate a residential factor into Rivulon, although Henderson said Gilbert hasn’t agreed to expand the zoning to include that aspect yet.
“Over a 20-year period of time, we may see things their way,” he said.
Nationwide Realty is fairly familiar with the Phoenix area — Guegold said the developer has had a presence in the area for at least 25 years — but Gilbert is new territory for the company. What led Nationwide Realty to dive into the town is the site’s location along the Loop 202, the area’s educated workforce and the long-term potential Nationwide Realty sees in Gilbert.
“It’s certainly a strong market today, and we think it’s going to be a strong market,” she said.
Rivulon’s a quality project for Gilbert too, as Henderson said it will “effectively double” the office space the town has to offer while adding development to what he described as Gilbert’s “densest area for jobs.”
The jobs are important, but Henderson said what makes the project even stronger is the company behind the development. He noted Nationwide Realty is a reliable developer that has a vision for the property that is long-term and flexible, which he believes is important. Plus, the brand name carries a cachet that could benefit development in other parts of town.
“That has a lot of credibility; it shows these national and international companies are seeing Gilbert as a good investment for them,” he said.
Guegold said Nationwide Realty is working on the site’s infrastructure, for example widening Gilbert Road, that will last into the fall, with erection of an LA Fitness expected to commence at the end of 2013 or early 2014.
“That’ll likely be the first vertical construction you’ll see,” she said.
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