Key details from the announcement:
- Location: 217 acres at Loop 101 & Scottsdale Road, purchased for $136M in a state land auction.
- Size: New HQ will expand from 156,000 sq. ft. in Tempe to over 250,000 sq. ft. on a 30-acre campus.
- Features: Three outdoor natural-grass practice fields, indoor turf fieldhouse, upgraded training, sports medicine, dining, and player lounge.
- Timeline: Construction begins 2026, with completion targeted before the 2028 NFL season.
- Development impact: 187 acres of the site will be developed for corporate offices, retail, restaurants, residential, and medical facilities.
- Infrastructure: Cardinals will build two miles of new water/sewer lines, unlocking nearby state lands for future development.
Investor Takeaway:
This is a massive anchor project in north Phoenix, combining sports, corporate HQs, and mixed-use development. Expect ripple effects on property values, leasing demand, and infrastructure growth in nearby submarkets. For landlords and investors in Maricopa County, this kind of development signals long-term demand drivers for both residential and commercial real estate.