Kierland One and Two will undergo $29M in renovations
Stream Realty Partners has been awarded the leasing, property management, and construction management assignments for two Class A office buildings that will soon be marketed as a 410,000-square-foot experiential office campus. Kierland One and Two at 16430 N. Scottsdale Road and 16260 N. 71st St. in Phoenix will soon undergo $29 million in hospitality-driven renovations. The project will allow Stream, a national real estate services, development, and investment firm with a growing office in Phoenix, to robustly reposition and market the buildings in the North Scottsdale area. The properties are owned by Vero A2R, the Dallas-based office investment platform of Vero Capital, formerly Admiral Capital Group.
Stream Phoenix Vice Presidents Nick Bialkowski and Stirling Pascal will serve as leasing brokers. Vice President Tom Coughlin and Senior Property Manager Kayla Chester will lead property management efforts. Vice President David Kollar will oversee construction management.
“We are excited to work with Stream Realty Partners to unlock the potential of these assets and create a premier office experience for tenants that will be among the best in the valley,” said Andy Stone, Principal of Vero A2R. “Their expertise and perseverance to deliver best-in-class leasing, property management, and construction management services align with our vision for this campus. North Scottsdale is ready for a project like this, and we can’t wait to deliver it.”
Vero A2R purchased Kierland One in 2021 and Kierland Two in November 2022 with the plan to combine both four-story buildings into a cohesive office campus that offers shared amenities. The capital improvement project includes reimagined lobbies and common areas, well-designed speculative suites, an upgraded fitness facility with locker rooms, on-site coworking operator, coffee shop, flexible meeting rooms, and outdoor collaboration spaces.
“We look forward to creating community within and delivering on Vero A2R’s vision for the tenants of Kierland One and Two,” said Amanda Coupe, Regional Managing Director of Stream’s property management platform. “Vero A2R’s renovation plans will make this campus a stand-out amongst its competition. Our property team will create a legendary customer experience for all tenants and their guests by creating an office atmosphere where collaboration and service are paramount.”
Located in the Northeast Valley submarket–one of the top three submarkets in Phoenix for absorption through the third quarter of 2022–the campus offers convenient access to Scottsdale Road as well as the Loop 101 Freeway, one of Phoenix’s major thoroughfares. The property provides easy access to more than 150 restaurants and retail options including the Promenade, Scottsdale Quarter, Kierland Commons, Scottsdale 101, Sonoran Village Shops, and Scottsdale Town Square.
“We’re thrilled to partner with Vero A2R on this project and support their vision of providing tenants with a workplace destination that both energizes and inspires,” Bialkowski said. “The ability for a ‘sky-is-the-limit’ mindset toward the employee experience gives us the opportunity to set a new standard in the Phoenix office market.”
The two-building campus currently has an estimated 150,000 square feet available for lease. Move-in ready suites to accommodate small and mid-sized tenants will soon be available. Vero A2R plans to furnish several of the new office spaces, allowing for true plug-and-play capabilities. For leasing information, contact Stream Phoenix at 602.837.5826.