Cassidy Turley: Restaurant Activity Booming at Park Central Mall
Cassidy Turley signed three leases at Park Central Mall, 3110 N. Central Ave. in Phoenix. New to the mall is Jimmy John’s, which leased 1,658 square feet, and Fired Pie, an Italian and pizza restaurant, which took over 2,500 square feet previously occupied by Fusilli’s. The third lease was a renewal by Jamba Juice for 1,036 square feet in the mall. Vice President Brent Mallonee with Cassidy Turley’s Retail Group represented the owners, Special Servicer LNR Partners, LLC (John Mitchell, Vice President, REO Asset Management) of Miami Beach, FL. Brian Polachek SRS Real Estate Partners represented Jimmy John’s.
The current ±333,610-square-foot Park Central mall was built over the course of four decades, between 1957 and 1980. The current property was converted from a retail only property to a mixed-use retail and office complex in 1997. The property is situated in the heart of the Midtown submarket, with over 1.7 million square feet of office space, and is easily accessible via a METRO Light Rail to the works in the Downtown North and South submarkets which include over 17.5 million square feet of office space.