{"id":1004170147,"date":"2017-03-23T10:11:27","date_gmt":"2017-03-23T18:11:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004170147"},"modified":"2022-12-08T18:21:40","modified_gmt":"2022-12-09T02:21:40","slug":"retail-portion-of-arizona-center-to-undergo-major-facelift","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/retail-portion-of-arizona-center-to-undergo-major-facelift\/","title":{"rendered":"Retail Portion of Arizona Center to Undergo Major Facelift"},"content":{"rendered":"<p>By Evelina Croitoru<\/p>\n<div id=\"attachment_1004170149\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004170149\" data-attachment-id=\"1004170149\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/retail-portion-of-arizona-center-to-undergo-major-facelift\/parallel_arizona-center_rendering_3rd-st-entrance\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg\" data-orig-size=\"5000,3125\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Parallel_Arizona Center_Rendering_3rd St Entrance\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?w=1024\" class=\"wp-image-1004170149 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg\" alt=\"3rd. Street Entrance\" width=\"300\" height=\"188\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg 5000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=300,188 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=768,480 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=1024,640 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=1536,960 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=2048,1280 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=150,94 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=696,435 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=1068,668 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=1920,1200 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_3rd-St-Entrance.jpg?resize=672,420 672w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004170149\" class=\"wp-caption-text\">3rd. Street Entrance<\/p><\/div>\n<p><strong>Phoenix<\/strong>\u2014Parallel Capital Partners has broken ground on an $11.6 million refurbishment of the retail component of the Arizona Center, a 16-acre mixed-use campus. The company acquired the property in a joint venture with Angelo, Gordon and Co. back in 2015, for $126 million. The deal included entitlements for an additional 3.9 million square feet of improvements.<\/p>\n<p>As already <a href=\"https:\/\/www.commercialsearch.com\/news\/arizona-center-begins-25m-renovation\/\" target=\"_blank\" rel=\"noopener\">reported<\/a>, Parallel Capital Partners broke ground on a $25 million renovation of the entire property. According to company officials, the project will take roughly nine months to complete, with all tenants remaining open during the renovation. The owners have revealed that New York-based Skanska USA will handle construction management for the retail component of the project.<\/p>\n<p>\u201cWe are proud to partner with Skanska USA as construction managers for this project. The company\u2019s 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,\u201d Matt Root, CEO &amp; managing partner at Parallel Capital Partners, said in prepared remarks.<\/p>\n<div id=\"attachment_1004170150\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004170150\" data-attachment-id=\"1004170150\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/retail-portion-of-arizona-center-to-undergo-major-facelift\/parallel_arizona-center_rendering_courtyard\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg\" data-orig-size=\"3000,1667\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Parallel_Arizona Center_Rendering_Courtyard\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?w=1024\" class=\"wp-image-1004170150 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg\" alt=\"Arizona Center's Courtyard\" width=\"300\" height=\"167\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg 3000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=300,167 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=768,427 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=1024,569 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=1536,854 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=2048,1138 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=150,83 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=696,385 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=1068,593 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=1920,1067 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Parallel_Arizona-Center_Rendering_Courtyard.jpg?resize=756,420 756w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004170150\" class=\"wp-caption-text\">Arizona Center&#8217;s Courtyard<\/p><\/div>\n<p>Upon completion, the multi-use project will feature site furnishings, shade structures, landscape, lighting, new materials, fixtures and finishes, wayfinding and branded signage features. The current parking garage at 5<sup>th<\/sup> and Fillmore streets will also be upgraded. Gensler is the architect of the project along with PdO, which is responsible with the interior redesign for One Arizona Center. Smith Group JJR is leading development strategies for the overall property.<\/p>\n<p><em>Renderings courtesy of Parallel Capital Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York-based Skanska USA will handle construction management for the $11.6 million refurbishment project.<\/p>\n","protected":false},"author":1055,"featured_media":1004170149,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21742,1601,21749,15],"tags":[33013,33012,33014,34560,34445,32886],"class_list":["post-1004170147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-latest","category-phoenix","category-retail","category-west","tag-angelo","tag-gensler","tag-gordon-and-company","tag-matt-root","tag-parallel-capital-partners","tag-skanska"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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