The commercial crown jewel of both the Camelback Corridor and the Biltmore area, The Esplanade announced the completion of a 12-month revitalization that kicks off an incredible comeback for both this landmark mixed-use campus, and also this once again red-hot commercial district. Led by a partnership of California-based LBA Realty, who purchased the ± 1.0 M sq. ft. development located at the SE corner of 24th St. and Camelback Rd., The Esplanade’s wall-to-wall renovation has already attracted high-profile companies such as CBRE, Alliance Residential, Cushman & Wakefield, BDO, Goldwater Bank and more. Combined with new amenities such as the state-of-the-art E-Center, six on-site restaurants, world-class shopping, luxury high-rise living, 6 hotels and 36 golf holes all within one mile, it’s no surprise that The Esplanade is once again influencing the Camelback Corridor’s recent renaissance.
The Esplanade provides today’s office and retail tenants with highly flexible, creative-friendly layouts and workspaces. Designed by Gensler & Associates, with landscaping design by SWA, this yearlong renovation stripped away decades of dated design details to create a clean, modern and alluring mixed-use workplace environment. Highlights include replacing the steeple-like shade structures with sleek, low-slung shade sails that blend seamlessly with the surrounding high-rises, while also providing more effective sun protection. The plaza was also transformed thanks to modern desert landscaping and stylish outdoor seating, while all entryways, signage and the secured underground parking were all reconfigured for better, more intuitive way finding. All common areas, including each building’s lobby are being upgraded with modern yet timeless finishes and furnishings, while all exterior lighting has been updated with eco-friendly LED lighting.
Today, The Esplanade is nearing 80% occupancy thanks to 200,000 sq. ft. of new leasing, as well as an additional 100,000 sq. ft. of renewals and expansions, in 2016 alone. Most importantly, The Esplanade embraces the way people live, work and play in Phoenix as one of the few truly walk-able neighborhoods in this sprawling suburban metropolis. Additional new tenants to be announced shortly.