Mar 14, 2017, 11:00am MST
The Arizona Center has begun its facelift.
Parallel Capital Partners and Angelo Gordon& Co., which bought the downtown Phoenix center in 2015 for $126 million, announced plans for renovations to the 1-million-square-foot center, which is projected to cost $25 million.
The companies have plans to add a boutique hotel and multifamily housing on the site as well as a number of other site improvements.
Downtown Phoenix had more than 3,600 apartment units planned or already under construction as of September 2016, and it doesn’t look like that development will slow anytime soon.
The 16-acre Arizona Center could accommodate another 3.9 million square feet of development. The property already includes two office towers. Retail elements include a 24-screen AMC Theatres multiplex and a handful of restaurants, though there are several open retail spaces around the center.
Other planned improvements include site furnishings, shade structures, landscape, lighting, new materials, fixtures and finishes, wayfinding, and branded signage features. The current parking garage at Fif th and Fillmore streets also will be upgraded, and valet parking will be added on Thi rd Street between Van Buren and Fillmore streets.
New York-based Skanska USA will perform construction for the project, and Gensler is the architect. PdO is working on the interior redesign for One Arizona Center, and Smith Group JJR is supporting development strategies for the entire property.
“We are proud to have partnered with Skanska USA as construction managers for this project, said Matt Root, CEO and managing partner for Parallel Capital Partners. “The company’s track record in the commercial construction industry is hard to match and we look forward to moving through this project quickly to bring Arizona Center back to life.”
Rouse Co. first developed the Arizona Center, which opened in 1990. The area has seen its ups and downs over the years with retailers and restaurants coming and going. The property was previously home to St. Mary’s High School.
A number of shopping centers throughout the Valley are undergoing massive renovations similar to the one at Arizona Center, including a $15 million renovation at north Phoenix’s Desert Ridge, as well as Scottsdale Fashion Square.
Steven covers retail, restaurants, hospitality/tourism as well as aviation, small business and nonprofits.
- VIEW ALL OF WALTERS LISTINGS http://www.loopnet.com/profile/14101172900/Walter-Unger-CCIM/Listings/
- Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me.http://walter-unger.com/are-you-ready-to-sell-or-purchase-your-land-or-commercial-building-in-phoenix-scottsdale-maricopa-county-and-pinal-county-arizona-please-call-me/
- I am actively looking to build relationships with Real Estate Investors and Owner Users to broker your land or commercial buildings in Phoenix / Scottsdale /Maricopa County / Pinal County / Arizona.http://walter-unger.com/i-am-actively-looking-to-build-relationships-with-real-estate-investors-and-owner-users-to-broker-your-land-or-commercial-buildings-in-phoenix-scottsdale-maricopa-county-pinal-c/
- WEEKLY APARTMENT CLOSING UPDATE / THROUGH March 10, 2017 / Phoenix Arizona Metro
- FROM ME:
- Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
- WEEKLY LAND CLOSING UPDATE / THROUGH March 3, 2017 / Phoenix Arizona Metro, Maricopa County, Pinal County.
- WEEKLY APARTMENT CLOSING UPDATE / THROUGH March 3, 2017 / Phoenix Arizona Metro
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail email@example.com or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Delivering the New Standard of Excellence in Commercial Real Estate
- Commercial Real Estate Scottsdale
- Commercial Real Estate Phoenix
- Commercial Real Estate Arizona
- Commercial Investment Properties Phoenix
- Commercial Investment Properties Scottsdale
- Commercial Investment Properties Arizona
- Land Specialist Arizona
- Arizona Land Specialist
- Land Specialist Phoenix
- Phoenix Land Specialist
- Land For Sale Phoenix
- Land for sale Arizona
- Commercial Properties For Sale Phoenix
- Commercial Real Estate Sales Phoenix
- Commercial Properties Phoenix
- Commercial Properties Arizona
- Commercial Land Specialist Phoenix
- Commercial Land Phoenix
- Multifamily land Phoenix
- Retail Land Phoenix
- Industrial Land Phoenix
- Land Commercial Phoenix
- Land Retail Phoenix
- Land Industrial Phoenix
- Land Multifamily Phoenix
- Industrial Land for sale Phoenix
- Land Industrial
- Investment Real Estate
Disclaimer of Liability
The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.