Construction has CommencedNovember 18, 2014
Construction set to commence for Rivulon development in Gilbert
By Eric Mungenast, Tribune East Valley Tribune
Although a slice of the project is already under construction, representatives from the town of Gilbert, Nationwide Realty and others broke ground on what will become the town’s most sizable business plaza.
The officials unearthed dirt for the incoming Rivulon project during a ceremony in Gilbert on Nov. 12. The ceremonial shoveling came as the symbolic first step toward the completion of the 250-acre development located off of Gilbert Road by the Loop 202 Santan Freeway.
“You’re looking at a $75 million investment that will be made now through the end of 2015,” said Nationwide Realty Investors president Brian Ellis.
Along with the monetary investment that includes $10 million for infrastructure completion, Ellis, whose company is based out of Columbus, Ohio, said the development should bring upward of 15,000 jobs to the area as well.
Construction is already well underway for one of the pieces of the complex — an LA Fitness branch set to open in March 2015. What the ceremony marked though was the start of one of the major components to the project; the building that will house the new international headquarters of Isagenix International, LLC. Isagenix, which was based in Chandler, sells health products tied to skin care, diet and other health products.
“We’re going to bring some energy to Gilbert, some excitement,” said Isagenix co-founder Kathy Coover.
Ellis has called Isagenix the catalyst for Rivulon’s construction, which is based in part on the company’s fiscal heft — the Isagenix website boasts $500 million in revenue from April 2013 to April 2015 — and for the size of the company’s office. Isagenix will occupy a three-story, 150,000-square-foot building that is expected to open in December 2015.
The Isagenix headquarters won’t be the first building to open at Rivulon though. Besides the LA Fitness franchise, Nationwide Realty is building a four-story, 125,000-square-foot speculative building it expects to wrap up by September 2015, along with a pair of two-story buildings with the same planned completion date as the four-story facility.
The Rivulon project extends beyond office space and will include 500,000 square feet of retail space and an anticipated 250 hotel rooms, but the office space might be the most important piece of the development. That’s because the totality of Rivulon is expected to more than double the amount of office space in Gilbert.
“That is remarkable and that means something; that means something for Gilbert’s (future),” said Gilbert Councilmember Jenn Daniels.
Daniels’ remarks, along with those of Gilbert Mayor John Lewis, focused on the town’s growth over the last 100 years during their respective speeches. Lewis said Gilbert in its early days was the hay capital of the world, and the town is now expected to increase its population from the current estimate of 230,000 to 330,000 at full build-out.
The Rivulon project is one factor they said will assist in the town’s economic expansion, but Lewis said another component to get the town toward its potential is the freeway adjacent to the development’s location.
“As we know, freeways create connections, and connections bring people, and people bring jobs,” he said.
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