Fender Breaks Ground on Co-Headquarters in Phoenix
Fender Musical Instruments Corp. has broken ground on a 77,000-square-foot office project in Phoenix.
Upon completion in the fall of 2025, the new building will serve as FMIC’s co-headquarters. The guitar manufacturer is currently located at Oaktree Capital Management’s 17600 N. Perimeter Drive in Scottsdale, Ariz.
Designed by SmithGroup, the office development will rise three stories. Upon completion, the property will comprise a shop for guitar and amplifier designers, a sound room, cafe and meeting rooms, as well as flexible workspaces.
Taking shape near Cactus Road and Tatum Boulevard, Fender’s upcoming office building will be part of RED Development’s $2 billion reimagining of the former Paradise Valley Mall, roughly 15 miles northeast of downtown Phoenix.
A Whole Foods facility will open this month at the 100-acre redevelopment, according to RED Development Senior VP Jeff Moloznik, Kjzz Phoenix reported. In November, 400 multifamily units are slated to come online.
Phoenix incentivizing office relocations
Last year, the Phoenix City Council approved a development agreement with the company. According to the deal, Fender will receive incentives to relocate its Scottsdale co-headquarters to the Paradise Valley Mall redevelopment.
The guitar manufacturer will benefit from performance-based job creation reimbursement through Phoenix’s strategic economic development fund. According to a report by the City of Phoenix, Fender’s facility is expected to provide an estimated economic output of $456.9 million over a decade.
Amid the unenforced return to office policies, Phoenix’s office pipeline remained tepid, in line with national office building trends. The Valley of the Sun held just 514,990 square feet underway as of August, according to a CommercialEdge report.
DMB Associates’ One Scottsdale, a 120-acre, 2.9 million-square-foot mixed-use development, contributes to Greater Phoenix’s office pipeline. Included in the project is Ryan Cos.’ One Scottsdale Medical, a 101,136-rentable-square-foot medical office building, slated for completion this year.
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