Tag Archives: Camelback

A Guide to Applying for a Bank Loan

P.B. Bell secures $24M loan for The Curve at Melrose

Scottsdale-based developer, acquisition and property management firm, P.B. Bell, has closed on a $24 million construction loan with U.S. Bank to build The Curve at Melrose, a luxury apartment development on 7th Ave. between Camelback and Indian School roads in Phoenix.

The Curve at Melrose will include 204 luxury units with amenities including a resort-style pool and spa, state-of-the-art exercise facility and parking, among others. With a mid-century modern design, the four-story building complements the surrounding Melrose neighborhood. The project will break ground next spring for completion in early 2018.

“P.B. Bell has a long history and demonstrated expertise in luxury residential development in our region. We’re pleased to partner with them for The Curve at Melrose, which is a great fit for the neighborhood and indicative of strong demand for high-end apartment living in north central Phoenix,” said Matt Mains, commercial real estate manager for U.S. Bank in Phoenix. U.S. Bank also provided financing for P.B. Bell to acquire the land.

U.S. Bank has 66 branches and employs more than 600 people in Phoenix. The bank’s commercial real estate division has 23 offices nationwide, including Phoenix. The division focuses on establishing long-term relationships with commercial real estate developers, REITs, and commercial property owners located across the United States.

The Phoenician resort is nestled in the Sonoran Desert, with the breathtaking Camelback Mountain its backdrop. Photo: The Phoenician

The Phoenician offers family-friendly summer luxury

The Phoenician, Arizona’s premier AAA Five Diamond resort destination, and its boutique hotel, The Canyon Suites at The Phoenician, are welcoming summer with sizzling rates and signature activities.

Beginning Monday, May 25 through Monday, September 7, 2015, guests of the 250-acre Phoenician can take advantage of the best rates of the year, starting from just $159 per night.  At The Canyon Suites — Arizona’s only Forbes Five Star and AAA Five Diamond hotel — a more personalized, intimate experience is available, with guestrooms starting at $219 and suites at $329 per night.  

Visitors to both properties will discover a diverse collection of activities, including Smartphone photography classes, special wine tastings with Arizona’s only Master Sommelier, dive-in movies, Glo at the Pho neon pool parties, Pop! Up movies, animal encounters and the Flight of the Phoenix, a mythological bird of prey show.  Exclusive Canyon Suites offerings are highlighted by culinary and cocktail demonstrations, complimentary Electra bicycles for touring the resort grounds or nearby communities, and a library presenting the latest New York Times best sellers.  

In addition, the two properties combined feature a total of eight spacious pools, full-service cabanas, a 165-foot water slide, the interactive “sprayground,” SURGE, a championship golf course, renowned spa and numerous award-winning restaurants offering select dining specials.

For more information and to make reservations, please call (800) 888-8234 and mention rate plan SUMMER, or visit www.thephoenician.com/offers  or www.canyonsuites.com/offers.

“We had a tremendous response to our summer programming last year, which has translated into even more events, activities and special offerings for 2015,” said Mark Vinciguerra, managing director.  “We look forward to sharing these many memorable experiences with staycationers and visitors alike in the coming months.”

During the summer holiday weekends, entertaining, themed programming and activities will be offered, sponsored by Infiniti on Camelback.   Memorial Day Weekend kicks things off with a Surf’s Up!  Block Party featuring the band Southwest Surfers; along with face painting; a sidewalk chalk art competition; and a Hawaiian shirt contest.  Following a Father’s Day “Weekend Off” event showcasing all things Dads like to do, the Independence Weekend gets under way with – IGNITE.  On Friday, July 3, fireworks on the Casita Lawn will be preceded by a live performance from the band Young Country.   An indoor carnival featuring a Shock Wave Obstacle Course, mechanical bull, a basketball shootout and football throw skill game will highlight the Saturday, July 4, activities.  To wrap up the season, The Phoenician will host “On the Boardwalk” during the Labor Day Weekend with food trucks, rides, a magician and a special concert.

Camelback Esplanade Gets Multi-Million Modernization

Camelback Esplanade, Phoenix’s premier mixed-use project, is launching a multi-million dollar modernization of Esplanade I and II.

MetLife, owner of four Camelback Esplanade towers, will start the venture with an update of lobby areas and corridors in Tower I, 2425 E. Camelback Rd. The improvements, which will start this month, include new Italian Botticino marble and black granite flooring to replace existing verde marble. A sculptural ceiling application, new lighting, luxuriously carpeted seating areas and refinished wood paneling will update the main lobby area.

Also included in the project is a reconfiguration of the security area to allow for greater visibility and more natural light. New furniture, plants and artwork will be incorporated. The ground floor restrooms will be completely remodeled with new tile and vanities. Multi-tenant floors will over time receive newly re-designed corridors and renovated restrooms. Major tenants in Towers I and II include Tiffany & Bosco, Cohen Kennedy Dowd Quigley, DLA Piper and Del Frisco’s Grill.

“This modernization project is integral to our overall strategy for these assets,” says Sheryl Brisbin, general manager of Camelback Esplanade. “The Camelback Esplanade stands out as a signature landmark in the Phoenix marketplace and maintaining that stature is of utmost importance. We are committed to elevating the quality of Camelback Esplanade, attracting and retaining the strongest tenants and continuing the tradition of this mixed-use property as a focal point of Metro Phoenix.”

“These physical updates to the Camelback Esplanade property are an important element of our overall strategy for this premier mixed-use project,” says Jerry Jacobs of Cushman & Wakefleld. “As the office market steadily recovers, we expect rental rates to increase. With vacancies declining in the submarket, we plan to reinforce our position. These upgrades will continue to elevate Camelback Esplanade as the finest mixed-use project in the Southwest.”

Cushman & Wakefield’s management and leasing team worked with Phoenix Design One to develop the new design of lobby and common areas. Careful consideration was given to the concept and finish selection during the six-month design process.

Stevens Leinweber Construction has been selected as general contractor for the project. The majority of work will be conducted after hours to minimize tenant disruption. Work on the 2425 E. Camelback Rd. building is slated for completion by the end of the year. Once completed, the team will move on to the Tower II, 2525 E. Camelback Road.

MetLife owns four office towers and the retail space at Camelback Esplanade. Towers I, II, IV and V offer approximately 906,176 square feet of Class A office space. The property contains 75,927 square feet of retail space. Jacobs, Larry Downey and Michael Crystal of Cushman & Wakefield serve as exclusive leasing agents for the four office towers. Summer Davis, Brian Kocour and Courtney Auther VanLoo of Cushman & Wakefield handle retail leasing for the property.