Guest Editorial: Opendoor moving to Tempe for big expansion should open eyes in Scottsdale

By Recker McDowell —

Opendoor, a leading real estate technology firm, is moving from Scottsdale where it has 250 employees to Tempe where it is looking to expand to 1,000 workers.

The move is a familiar one for Scottsdale.

Opendoor joins McKesson, Harkins Theatres and other companies who have left, are leaving or have not landed in Scottsdale. Often, those employers simply cannot find enough Class A office in Scottsdale to land or expand there.

San Francisco-based Opendoor is leaving The Quad development in southern Scottsdale for a larger block of space at the new Watermark project on the north side of Tempe Town Lake.

Scottsdale is a desirable destination for employees and their workers. That includes the social media and tech firms that have landed at the Scottsdale Galleria.

But other firms such as McKesson and now Harkins Theatres are moving to new developments on the Salt River Pima Maricopa Indian Community. Others such as Opendoor are landing in Tempe which has seen significant new developments since the last recession, and even more is planned.

The lack of new Class A space coupled with employers having other options of where to land in the Valley is a challenge for Scottsdale.

It is a challenge that Scottsdale leaders need to think about and address as they chart economic development efforts.