Newly renovated Arizona Center adds tenants, will break ground on new hotel

Real Estate | 27 Mar |

Arizona CenterPhoenix’s original downtown entertainment destination located at 3rd Street and Van Buren, recently completed construction on its $25 million makeover, which includes new creative office space, outdoor work stations, shopping, entertainment and casual dining. Complementing the new modern aesthetics is a new logo, website and brand identity.

“We are thrilled to debut the newly renovated Arizona Center,” said Matt Root, managing partner for Parallel Capital Partners, owner and manager of the center. “The upgrades to the center bring a whole new vibe to the heart of downtown Phoenix. As we add tenants, Arizona Center will continue to become an even bigger hub for meeting up with friends and family, entertainment, shopping and so much more.”

Improvements to the one million-square-foot multi-use center include opening up the property to surrounding streets creating a more integrated downtown experience, new modern colors, outdoor furnishings and lounge areas, modern shade structures, new landscape and water features, additional lighting and illuminated signage including a 60 ft. LED jumbotron on the corner of 3rd Street and Van Buren. Valet parking was also added as were bike racks and a stage for entertainment.

In addition to the completed property renovations, the first upscale select-service boutique hotel in downtown Phoenix, AC Hotel by Marriott, will break ground next month and is scheduled to be completed in the third quarter of 2020. The 13-story, 199-room, urban-inspired hotel will be steps from the Phoenix Convention Center and will offer a state-of-the-art fitness center, 3,400 sq ft. meeting room, European inspired breakfast and tapas service and an indoor/outdoor lobby lounge and bar that will overlook Arizona Center’s 3-acre urban park, the Grotto. Following the groundbreaking of the hotel will also be the beginning of construction on a new 31-story residential tower, Palm Tower.

With the renovations complete, Arizona Center is focusing on bringing in new tenants in 2019. So far, Kwench Juice Café moved in, Freshii, fast casual fresh and nutritious food, opened yesterday and Bosa Donuts just started construction for a tentative opening in early June. Additionally, Arizona Center has a variety of mixed-use office space which includes new tenant, Arizona State University’s Thunderbird School of Global Management. New leases are also in the works.

For retail leasing information at Arizona Center contact Brent Mallonee of Cushman Wakefield at 602-224-4437, brent.mallonee@cushwake.com. For office leasing information contact John Bonnell at 602-282-6256, john.bonnell@am.jll.com. For additional leasing information visit www.arizonacenter.com/leasing-information/.

Show Buttons
Hide Buttons