Gilbert’s Rivulon mixed-use project lands key office tenantsMarch 4, 2019
Article originally published in Phoenix Business Journal by Corina Vanek | March 1
Two additional 100,000 square foot office buildings at the project are now under construction
Rivulon, a 250-acre master-planned, $750 million, mixed-use development being built by Nationwide Realty Investors in Gilbert has landed several new tenants in various buildings in the complex.
Cincinnati Insurance Co. has leased approximately 15,000 square feet on the second floor of the 161 E. Rivulon Blvd. building and plans to move into the space this spring. Western & Southern Life Insurance Co. and Old Republic Title Holding Co. have both already moved into space in the building, leasing 3,400 and 3,500 square feet, respectively.
In the adjacent building at 111 E. Rivulon Blvd., Ensign Financial Partners leased 3,400 square feet. Morgan Stanley Smith Barney Financing LLC, Fairway Independent Mortgage Corp., Security Title Agency and Miller Financial Group already have offices in that building.
Both buildings, which each contain 60,000 square feet of space, were completed earlier this year.
Over the summer, Deloitte announced plans to move into the Commons at Rivulon. The company moved into its 102,000-square-foot office at the end of 2018.
Two additional two-story, 100,000-square-foot buildings remain under construction. Upon completion of the third and fourth buildings, the Commons will include more than 400,000 square feet of office space.
Fred Darche and Spencer Nast of Lee & Associates represented Nationwide Realty Investors in the office real estate transactions.
Rivulon is one of two major developments Nationwide Realty Investors, the real estate arm of Nationwide Mutual Insurance Cos., is working on in the Valley.
Late last year the company revealed plans for its nearly $1 billion development, called Cavasson, in north Scottsdale.
That project will include several commercial office buildings as well as the new 460,000-square-foot regional headquarters building for Nationwide, multifamily apartments, a six-story parking structure, retail and restaurants, two hotel sites, and significant infrastructure improvements near Loop 101 and Hayden Road.