{"id":1004169472,"date":"2017-03-16T09:16:31","date_gmt":"2017-03-16T17:16:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004169472"},"modified":"2022-12-08T18:31:28","modified_gmt":"2022-12-09T02:31:28","slug":"arizona-center-begins-25m-renovation","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/arizona-center-begins-25m-renovation\/","title":{"rendered":"Arizona Center Begins $25M Renovation"},"content":{"rendered":"

By IvyLee Rosario<\/span><\/p>\n

\"Arizona<\/a>

Arizona Center<\/p><\/div>\n

Phoenix<\/strong>\u2014Arizona Center, a downtown mixed-use development at 3rd St. and Van Buren in Phoenix, has kicked off its $25 million makeover. The property comprises two office towers, a 24-screen AMC Theatres multiplex, as well as retail and restaurant space.
\n<\/span><\/p>\n

Owners Parallel Capital Partners and Angelo, Gordon & Co. tapped Skanska USA to handle construction management for the renovation.\u00a0The joint venture paid $126 million<\/span> for the 16-acre complex, which has entitlements for an additional 3.9 million square feet of improvements.\u00a0<\/span><\/p>\n

Gensler will serve as the architect, with PdO working on the interior redesign and Smith Group JJR\u00a0\u00a0is supporting development strategies for the property. The 1 million square-foot property will include updates on\u00a0site furnishings; shade structures; landscaping; lighting; new materials, fixtures and finishes; wayfinding and branded signage features. In addition, the current parking garage at Fifth\u00a0and Fillmore Streets will be upgraded and a valet parking element is being added on\u00a0Third Street.\u00a0A boutique hotel and multifamily housing will also be added at Arizona Center.<\/p>\n

“Gensler is excited to be a part of this landmark project, which represents a major step forward in the continued revitalization of downtown Phoenix<\/span>,” said Jay Silverberg<\/span>, principal & design director for Gensler, in prepared remarks. “The design, inspired by the legacy of the Arizona Center itself, is aimed at creating an authentic Arizona<\/span> experience, a compelling mixed-use destination, and further asserting its prominence into the urban fabric of downtown.”<\/p>\n

Image courtesy of Arizona Center<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The joint venture paid $126 million to acquire the 16-acre complex, which has entitlements for an additional 3.9 million square feet of improvements.<\/p>\n","protected":false},"author":746,"featured_media":1004169477,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21752,21742,1601,15],"tags":[33013,33012,33014,34445,32886],"class_list":["post-1004169472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-mixed-use","category-latest","category-phoenix","category-west","tag-angelo","tag-gensler","tag-gordon-and-company","tag-parallel-capital-partners","tag-skanska"],"acf":[],"yoast_head":"\nArizona Center Begins $25M Renovation - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/arizona-center-begins-25m-renovation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arizona Center Begins $25M Renovation\" \/>\n<meta property=\"og:description\" content=\"The joint venture paid $126 million to acquire the 16-acre complex, which has entitlements for an additional 3.9 million square feet of improvements.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/arizona-center-begins-25m-renovation\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-16T17:16:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:31:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Arizona-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/arizona-center-begins-25m-renovation\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/arizona-center-begins-25m-renovation\/\",\"name\":\"Arizona Center Begins $25M Renovation - 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