North Scottsdale is one of the primary business hubs in Metro Phoenix. The North Scottsdale area includes the Scottsdale Airpark, which has nearly 12 million square feet of office space and 6.7 million square feet of industrial/flex space. The area is home to several hundred businesses employing more than 40,000 workers.
The Vanguard Group employs nearly 2,300 workers at a company owned facility in the Scottsdale Airpark, while the Scottsdale Insurance Company has 1,500 workers in the area. A diverse group of companies has national or regional headquarters in the Scottsdale Airpark, including Discount Tire, Fender Musical Instruments, Henkel, Medicis Pharmaceutical, and TASER International.
The area received a boost of new jobs in 2016 when Carlisle Companies, a Charlotte-based manufacturer, relocated its corporate headquarters to Kierland. A few years ago, Magellan Health relocated its corporate headquarters to Scottsdale from Connecticut.
Multifamily construction in North Scottsdale is beginning to materialize, with developers having delivered more than 2,400 units since 2013. New projects are also under way. There are currently more than 1,300 units under construction—these projects will command some of the highest rents in all of Metro Phoenix.
The South Scottsdale area encompasses Old Town Scottsdale, and is the premier entertainment and tourism segment in the Greater Phoenix metro area. South Scottsdale features dozens of restaurants and bars, the 1.6-million square foot Scottsdale Fashion Square Mall (with high-end retailers such as Neiman Marcus, Tiffany and Tesla) as well as approximately 5 million square feet of office space.
These attractive amenities and a growing live/work/play culture is prompting multifamily development in South Scottsdale, where projects totaling more than 1,200 new units in the development pipeline. Nearly 3,000 units have come online in the area since 2013.
The South Scottsdale area has been attracting businesses because the employees are drawn to work and live there. Companies such as Zoc-Doc, Zenefits, Weebly and Frensius Medical have moved into the area in recent years.
The SkySong Innovation Center is a public-private partnership with ASU and the city of Scottsdale. Upon build-out, the mixed-use development will include more than 1.2 million square feet of space, including multifamily units. The list of cutting-edge companies that call SkySong home includes: Yodle, Groupon and Theranos.