{"id":1004303735,"date":"2019-02-27T09:18:13","date_gmt":"2019-02-27T17:18:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004303735"},"modified":"2019-02-27T09:19:33","modified_gmt":"2019-02-27T17:19:33","slug":"phoenix-office-building-to-undergo-17m-revamp","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-office-building-to-undergo-17m-revamp\/","title":{"rendered":"Phoenix Office Building to Undergo $17M Revamp"},"content":{"rendered":"<p>George Oliver Cos. has revealed redevelopment plans for CASA, a 181,188-square-foot office building located in Phoenix\u2019s Uptown neighborhood and previously known as Catalina Terraces. The owner intends to invest $17 million in the refurbishment program, which will transform the property into a modernized office space focused on health and wellness, and slated for completion in the third quarter of 2019.<\/p>\n<p>Located at 7878 N. 16<sup>th<\/sup> St., the Class A building was completed in 1989 and last changed ownership in late 2018, when George Oliver acquired it for $16.5 million from Gemini Rosemont, according to Yardi Matrix. Improvements\u2014scheduled to begin in April\u2014will feature upgraded lobbies and restrooms, a new landscape package and a revamped exterior, while also maintaining the property\u2019s Spanish architectural roots, including natural wood elements and smooth stucco finishes.<\/p>\n<h2>Wellness-oriented design<\/h2>\n<p>Plans call for amenities such as a training center with the ability to host about 60 guests, two courtyards with seating to serve as a relaxation and collaboration area, and an on-site, owner-operated coworking facility aimed to accommodate users ranging from one to 10 desks. Additionally, a tenant lounge and caf\u00e9 operated by Kaleidoscope Juice will open at CASA in the fall of 2019. George Oliver has also unveiled plans for a wellness center with a yoga room, a fitness facility with showers, an on-site meditation room, a hair salon, a dog park and a two-story, climate-controlled dining area with lounge space and food truck parking.<\/p>\n<p><em>\u201cThis is the first modernized office project of its kind in the metro Phoenix market to put health and wellness at the heart of its design,\u201d<\/em> Curt Kremer, George Oliver founder &amp; managing partner, said in prepared remarks. <em>\u201cWe\u2019ve done our best to listen to the demand drivers of the modern-day tenant and deliver an office space complete with all of the services that today\u2019s businesses need to excel\u2014with equally high-quality wellness amenities that curate personal development and deliver a sense of community.\u201d<\/em><\/p>\n<p>Western Alliance Bank originated the renovation funding and RSG Builders will spearhead the improvement process, while Arcadia Management will provide management services. Colliers International is in charge of leasing, with Executive Vice Presidents Ryan Timpani and Todd Noel leading marketing efforts.<\/p>\n<p><em>\u201cIts one-of-a-kind amenities set it apart from the competition as occupiers of space continue to relocate to assets that allow them to attract and retain top talent. With the residential and retail renaissance taking place in the surrounding neighborhood of Uptown Phoenix, CASA is well positioned to lure a diverse and robust tenant base,\u201d<\/em> Timpani added.<\/p>\n<p>In August 2017, a joint venture between George Oliver, EverWest Real Estate Partners and WHI Real Estate Partners <a href=\"https:\/\/www.commercialsearch.com\/news\/city-office-reit-expands-in-metro-phoenix\/\">sold The Quad, a 14-building campus in Scottsdale<\/a>, Ariz. Vancouver-based City Office REIT acquired the creative office property for $51 million.<\/p>\n<p><em>Renderings courtesy of George Oliver<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New owner George Oliver Cos. will transform CASA, an Uptown property formerly known as Catalina Terraces, into a modern workplace focused on tenant health and wellness.<\/p>\n","protected":false},"author":240,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21742,21747,1601,15],"tags":[44390,36351,32763,44387,44393,44396],"class_list":["post-1004303735","post","type-post","status-publish","format-standard","hentry","category-development","category-latest","category-office","category-phoenix","category-west","tag-arcadia-management-group","tag-capital-improvement","tag-colliers-international","tag-george-oliver-companies","tag-todd-noel","tag-western-alliance-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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