Never interrupt someone doing what you said couldn’t be done.
Nov 12, 2015, 9:45pm MST Updated Nov 17, 2015, 6:58am MST Mike Sunnucks Senior Reporter
Phoenix Business Journal
Scottsdale-based Empire Group plans on buying the historic Circles Records & Tapes building in downtown Phoenix and wants to redevelop the well-known property into a 19-story apartment building with more than 300 units.
The project will keep some of the architectural and building elements of the current 19,300-square-foot property, which opened in 1946 as a Studebaker dealership. Jacobs stressed the project will incorporate much of the existing architecture and historic nature of the downtown building.
Geoffrey Jacobs, a principal with Scottsdale-based Empire, said he’s working toward buying the record store property and on site plan approvals from the city of Phoenix. He said the project does not need rezoning from the city and he’s looking at restaurants to occupy ground-floor space at the apartment development.
He said construction could start next summer.
“It will be at least 300 units,” Jacobs told the Phoenix Business Journal.
The Circles building at Central Avenue and McKinley Street has been empty since the record store closed in 2010. It was listed for $2.9 million.
Jacobs said the sale is moving forward. He declined to comment on the price.
An Empire affiliate Aspirant Development will be moving forward with the project, Jacobs said.
CCBG Architects, which has done a number of infill and adaptive reuse projects in Phoenix, is handling the design for Empire.
Jacobs said he is looking at ways to keep a rotunda window and iconic signage in the new apartment development. He said that rotunda space would work well for a restaurants.
Circles occupied the building from 1972 to 2010. The Singer family, which owned the Phoenix record store, still owns the property.
Colliers International broker Larry Ortega has been marketing the Circles building for the Singers.
Mike Sunnucks writes about residential and commercial real estate, government, law, sports business and workplace issues.
Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Investment Properties in Phoenix / Tucson / 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 Residential Land in Phoenix / Tucson / Arizona. 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 in Phoenix / Tucson / Arizona, and Commercial Land or Residential Land in Phoenix / Tucson / Arizona.
I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of land and Investment Properties in Arizona and therefore I am working with many Land 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 international. Click here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
WHY PHOENIX ARIZONA : ???
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.
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. I am also a commercial land specialist in Phoenix and a Landspecialist in Arizona. 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
2821 E. Camelback Rd. Suite 600
Phoenix , AZ 85016
View my listings and my profile at:
a little about me and my expertise – video
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.