Iconic Esplanade campus will undergo $45 million renovation
The ownership of the Esplanade office buildings have announced plans to fully renovate and upgrade the renowned and prestigious four building campus. Located at 2425, 2525, 2575, and 2555 E. Camelback Rd. in the Biltmore area, the $45 million Esplanade renovation project will add approximately 30,000 square feet of new amenity space and overhaul the existing buildings. Construction is expected to start in early spring of 2023.
The upgrades planned at the Esplanade aim to create a new standard for the future of work by incorporating unparalleled service, advanced technology, and intelligent spaces to give businesses and workers the tools they need to thrive. Increased connectivity throughout the campus will provide easy access to amenity spaces while creating the opportunity for “social workspaces”, enabling workers to perform in and outside of their dedicated office space.
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“This renovation will amplify the already desirable location and offerings the Esplanade has,” said Bryan Taute, executive vice president at CBRE. “The property is approximately 90% full and we have leased 200,000 square feet in new deals and renewals since March this year. We look forward to not only enhancing the experience for tenants and visitors but elevating it by offering amenities essential to a prosperous business life – one that is focused on bringing together Spaces, Services, People, and Technology to deliver meaningful “third place” experiences.”
A new 16,000 square foot, two-story central amenity building will be the heart of the property and will include a full-service café and bar, collaborative workspaces, lounges, and game areas with pool tables and golf simulators. The second floor will be dedicated to health and fitness, offering a state-of-the-art gym and studio spaces for group classes and social wellness programs.
A new 8,000 square foot conference center will provide groups a venue that will accommodate up to 100 person events, including a variety of meeting rooms and coworking spaces outfitted with superior AV/IT equipment tailored to producing podcasts, live stream studios, and more.
The campus will also be enhanced with a redeveloped landscape, a new shade structure, new lobby entrances, and pedestrian-friendly walkways and surfaces to create a cohesive, interconnected campus. In addition to the new gym and studio spaces, the robust health and wellness program will include recovery rooms, infrared saunas mother’s rooms and meditation spaces.
The Esplanade is the premiere hub of professional services, real estate, and legal tenants in the Camelback Corridor including CBRE, Merrill Lynch, Cushman & Wakefield, UBS Financial, Gallagher & Kennedy, and others. The redevelopment is expected to be complete by the third quarter of 2024.