{"id":1004737031,"date":"2024-11-13T04:43:26","date_gmt":"2024-11-13T12:43:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004737031"},"modified":"2024-11-13T07:33:02","modified_gmt":"2024-11-13T15:33:02","slug":"red-development-adds-tenants-at-phoenix-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/red-development-adds-tenants-at-phoenix-retail-center\/","title":{"rendered":"RED Development Adds Tenants at Phoenix Retail Center"},"content":{"rendered":"\n

After acquiring full ownership of Biltmore Fashion Park, a 611,000-square-foot open-air lifestyle destination in Phoenix, from former partner Macerich, RED Development is moving ahead with plans to build a new mixed-use tower on the 29-acre site and revitalize the property.<\/p>\n\n\n

\n
\"Biltmore<\/a>
Biltmore Fashion Park was Arizona\u2019s first luxury outdoor shopping and dining center. Image courtesy of RED Development<\/em><\/figcaption><\/figure><\/div>\n\n\n

Built in 1963, Biltmore Fashion Park was Arizona\u2019s first luxury outdoor shopping and dining center. The iconic property is known for its architecture, high-end retailers and restaurants and community events. <\/p>\n\n\n\n

RED, a Phoenix-based commercial real estate company with a mixed-use and retail portfolio, acquired the remaining 50 percent ownership of the property from Macerich for $110 million in July, according to the Arizona Republic<\/em> newspaper.<\/p>\n\n\n\n

Earlier in the year, Macerich had filed plans with the city of Phoenix to build a mixed-use high-rise at the corner of 24th Street and Camelback ranging from 140 to 165 feet tall. The proposal is still under review but is expected to include residential offerings, upscale hotel accommodations and office space. Further details about RED\u2019s plans for the mixed-use destination were not released at this time.<\/p>\n\n\n\n

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READ ALSO<\/strong>: How Dining Trends Are Reshaping Shopping Centers<\/a><\/p>\n\n\n\n

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However, RED is planning a strategic revitalization of Biltmore Fashion Park, including making improvements to landscaping and upgrading lighting. The company, which recently relocated its headquarters to the center, has also signed several new retail tenants. They will join anchors Macy\u2019s, Saks Fifth Avenue and Life Time Fitness, and more than 65 specialty retailers including Anthropologie, J. Crew, Gorjana, Ralph Lauren, Lululemon, Pottery Barn and Sephora. The center\u2019s dining options include Capital Grille, Blanco Cocina + Cantina, Zinburger, Ambrogio15 and True Food Kitchen.<\/p>\n\n\n\n

Rye 51, a high-end menswear retailer offering custom suits, slacks, shirts and styling services, has relocated to a new 2,400-square-foot space between Tumi and Soma. Warby Parker eyewear company is slated to open in March 2025 in a more than 2,000-square-foot store next to Soma and Cornelia Park. Apex Tailoring, a luxury tailoring and custom suit boutique with a focus on menswear, will open in December in an 894-square-foot pop-up spot next to Macy\u2019s. Another pop-up, PILLAR, an activewear and leisurewear retailer, is opening its first brick-and-mortar location in a 1,068-square-foot space next to Life Time Fitness this week.<\/p>\n\n\n\n

More RED projects<\/h2>\n\n\n\n

RED Development, which is celebrating its 30th anniversary this year, is known for its mixed-use and retail properties across the Southwest and Midwest. Among its high-profile developments in the Phoenix area include PV, the $2 billion redevelopment of the former Paradise Valley Mall<\/a>, and The Grove<\/a>, a $500 million development on the Camelback Corridor. Last year, RED formed a joint venture with Globe Corp. to build a 150-acre mixed-use development in Goodyear, Ariz., that will create an upscale entertainment hub called GSQ<\/a> with dining, retail, multifamily, office and hotel offerings.<\/p>\n\n\n\n

In Dallas, RED and joint venture partner KB Asset Management Co. Ltd. refinanced the office and retail component of The Union, an 800,000-square-foot mixed-use property in the Uptown submarket<\/a>, last month with a $227 million loan from Goldman Sachs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Plans also call for a new mixed-use component and upgrades.<\/p>\n","protected":false},"author":1068,"featured_media":1004737075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21752,21742,21747,1601,21749,15],"tags":[32958,44177],"class_list":["post-1004737031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-mixed-use","category-latest","category-office","category-phoenix","category-retail","category-west","tag-macerich","tag-red-development"],"acf":[],"yoast_head":"\nRED Development Adds Tenants at Phoenix Retail Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"RED Development is unveiling plans for a new mixed-use development and upgrades at the upscale Biltmore Fashion Park open-air center.\" \/>\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\/red-development-adds-tenants-at-phoenix-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RED Development Adds Tenants at Phoenix Retail Center\" \/>\n<meta property=\"og:description\" content=\"RED Development is unveiling plans for a new mixed-use development and upgrades at the upscale Biltmore Fashion Park open-air center.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/red-development-adds-tenants-at-phoenix-retail-center\/\" \/>\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=\"2024-11-13T12:43:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-13T15:33:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Biltmore-Fashion-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"799\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\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\/red-development-adds-tenants-at-phoenix-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/red-development-adds-tenants-at-phoenix-retail-center\/\",\"name\":\"RED Development Adds Tenants at Phoenix Retail Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-development-adds-tenants-at-phoenix-retail-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-development-adds-tenants-at-phoenix-retail-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Biltmore-Fashion-Park.jpg\",\"datePublished\":\"2024-11-13T12:43:26+00:00\",\"dateModified\":\"2024-11-13T15:33:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"RED Development is unveiling plans for a new mixed-use development and upgrades at the upscale Biltmore Fashion Park open-air center.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-development-adds-tenants-at-phoenix-retail-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/red-development-adds-tenants-at-phoenix-retail-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-development-adds-tenants-at-phoenix-retail-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Biltmore-Fashion-Park.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/Biltmore-Fashion-Park.jpg\",\"width\":799,\"height\":620,\"caption\":\"Biltmore Fashion Park was Arizona\u2019s first luxury outdoor shopping and dining center. 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