Phoenix Development News (3)

[biggus diggus]

People are really dumb, if you don't like density then don't live in the center of one of the largest cities in the country.

The hotel is potentially going on the empty lot next to the Circle K at 11th and Van Buren. A guy named Vijay is involved with it, he owns a hotel in Chandler and I think one other in the east valley, not sure who else would be backing it financially because I don't think he's in the big hotel game, just little motels.

Back in 2007 they were going to build a Hampton Inn at that location, obviously the crash of the economy got in the way but I think this is literally just a larger version of that old proposal (which actually was in permitting stages).

[SunDevil]

Didn't know I lived in the hood. Haven't locked my car doors in 6 years here (between Thomas and McDowell and 40th and 36th).

There's been one instance of petty crime where some one stole my charcoal grill from my backyard, but mostly we have been left alone.

[exit2lef]

Originally Posted by combusean

A 7 story commercial use in the middle of a single-story residential neighborhood is about as out of place as you can get for Phoenix.

Edit: is it at Garfield (where there's a big vacant lot) or Van Buren? 11th St and Van Buren would be fine and a major improvement.

Van Buren. In the Garfield neighborhood, but not on Garfield Street.

Originally Posted by downtownphxguy12

HOTEL AT 11 st and Van Buren

Traffic coming into neighborhood, and they wanted to make a requirement that they hire from within the neighborhood. I signed mostly because the petitioner was cute.

Actutually i am kind of a property rights guy (if they meet zoning....) but it is still good to have discussions with neighbors.

I asked her if she lived and neighborhood and she said no, she was from tempe.

Those reasons sounds so flimsy that I wonder if there's something else going on here. The cute petitioner said she lived in Tempe and mentioned that there's already another hotel nearby. Pure speculation, but I wonder if by any chance an existing hotel is orchestrating an astroturf campaign to keep a potential competitor away. The usual naysayers typically rely on online petitions and other forms of slacktivism. Canvassing door-to-door seems like a more organized effort requiring some money behind it.

Edited to add another bit of overnight speculation: I wonder also if a union representing hotel workers might be behind the petition. Sometimes, a union will create friction for a business as a way of applying pressure to hire union labor or accept union demands.

[Crispy]

Originally Posted by muertecaza

Nothing official I've seen about the planned use of the land.

I think it will be a data center.

[CrestedSaguaro]

A couple more tenants have signed along with Quicken to bring occupancy at One North Central up to 96%.

One of the most notable new tenants at One North Central is Quicken Loans, which will occupy six of the building’s 20 floors. Live Nation, Coleman & Finch and Urban Eye Care ink the other three leases.
by Roxana Baiceanu | Jul 26, 2017

More than 160,000 square feet of office space have recently been leased at One North Central, a 20-story office tower located in downtown Phoenix. Parallel Capital Partners negotiated four new leases, bringing the building to 93 percent occupancy.

The upcoming tenants are Quicken Loans, Live Nation, Coleman & Finch and Urban Eye Care, who will be joining Ryley Carlock & Applewhite and Renaud Cook Drury Mesaros, among other firms.

“We are thrilled with these latest additions to the tenant mix at the property. Quicken Loans will bring 1,100 jobs to the heart of the city. Add to that the other new tenants, and we are approaching the fully leased mark—a good indicator about the tempo of the Phoenix market,” said Matt Root, CEO of Parallel Capital Partners, in prepared remarks.

Top Leases

The most notable deal involved the relocation of lending company Quicken Loans from Scottsdale, Az., to a 150,000-square-foot office at One North Central. CBRE’s Executive Vice President Jerry Roberts and Associate Patrick Boyle represented Parallel, while David Friedman, president & CEO of Friedman Integrated Real Estate Solutions negotiated the agreement on behalf of the tenant. The lease term is 128 months.

The second-largest deal brought Live Nation to a 6,573-square-foot office in the building. Managing Director Daniel Dobric of Newmark Knight Frank represented the tenant. The same team of brokers from CBRE closed the transaction on behalf of the landlord. The lease term is 66 months.

Coleman & Finch signed the third-largest lease, preparing for the November opening of its One North Gastropub on 3,650 square feet of space located on the ground floor of the building. CBRE represented the tenant while Ryan Leavitt, a director with Cushman & Wakefield represented Parallel.

Parallel, who is also the owner of Arizona Center, bought One North Central in 2015. Following the acquisition, the 410,000-square-foot LEED Silver, ENERGY STAR-rated tower went through several renovations, resulting in a new business lounge, a garage automation system, elevator upgrades and the modernization of the Energy Management System, which cost the company approximately $1 million.

https://www.cpexecutive.com/post/parallel-capital-brings-new-tenants-to-phoenix-office-tower/

[exit2lef]

Originally Posted by RonnieFoos

A couple more tenants have signed along with Quicken to bring occupancy at One North Central up to 96%.



https://www.cpexecutive.com/post/parallel-capital-brings-new-tenants-to-phoenix-office-tower/

I originally thought the name of the restaurant was going to be "Coleman & Finch," but in this article, it sounds like that is the name of the firm that will own and operate the restaurant, which will be named "One North."

[biggus diggus]

Imaginative.

[muertecaza]

Luhrs Marriott is officially open.

http://azbigmedia.com/experience-az/downtown-phoenixs-newest-highrise-hotel-open

[crwhiteinaz]

Originally Posted by muertecaza

Luhrs Marriott is officially open.

http://azbigmedia.com/experience-az/downtown-phoenixs-newest-highrise-hotel-open

The PBJ did a little write-up on this also.

https://www.bizjournals.com/phoenix/news...t-put-two-of-its-brands-in-the-same.html

[Obadno]

Good news for continued downtown growth

http://azbigmedia.com/azre-magazine/report-phoenix-doesnt-have-enough-apartments-short-term-either

12,000 current deficit, 20,000+ deficit in 4 years if trends continue.

Someone get these numbers to investors and developers quick!

[ASU Diablo]

Originally Posted by Obadno

Good news for continued downtown growth

http://azbigmedia.com/azre-magazine/report-phoenix-doesnt-have-enough-apartments-short-term-either

12,000 current deficit, 20,000+ deficit in 4 years if trends continue.

Someone get these numbers to investors and developers quick!

Good news! Derby...we're looking at you! Forget the GPLET and build, build, build

[Phxguy]

In light of recent high-rise news, I wanted to give a nod to the smaller infill developments going on around downtown.

http://dtphx.org/2017/08/04/downtown-liv...-walkability-downtown-apartment-options/

According to above article, a craft cocktail concept and wine bar is expected to join the ground floor retail with NCounter, albeit with no set opening date as of yet.

Welcome Diner has broken ground on its second location at 10th St and Pierce across from Gallo Bianco.

Didn't see construction equipment at the Blocks at Roosevelt site, I wonder if because of First Friday and they didn't want people messing around with their machines or if construction has halted. Across the street, work seems to have picked up at the 5th st and Roosevelt development. Looking forward to this intersection being completed in the near future.

Haven't wandered into the CBD recently for updates but the Van Buren concert venue opens later this month (already booked into December)! I can think of the Downtown Deli tavern, One North gastropub, 48th State Brewery, and Union market at the US Bank Tower as additional retail being added. The Grand coffee shop has added a small liquor market concept sort of replacing Flowers Wine and Beer as a place to buy alcohol. Forno 301 (good authenic pizza) is moving to across Phx Art due to an apartment developer to build on 3rd Ave and Roosevelt.

Having recently moved downtown, I'm estatic to see the diversity of retail expound upon itself! I hope this will give national chain brands like a Nike and H&M the comfort they need to start opening up shops in the core and renovated Az Center.

[fawd]

Few recent restaurant closures in the neighborhood too (Tap Room Z-Pizza, Rice Paper, etc).

But definitely growing in the right direction!

[fawd]

Dble Post

[dtnphx]

For all you brewski guys:

State 48 Brewery is opening a second Arizona location in downtown Phoenix.

State 48 already has a location in Surprise. It now has leased 8,024 square feet at the Welnick Marketplace. That is a historic redevelopment at Van Buren Street and Fourth Avenue in downtown Phoenix.

Chris Ackel and Max Bippus of CBRE Group Inc. (NYSE: CBG) brokered the deal.

The downtown Phoenix location will features a 20-barrel brewing system and 40 fermenters. It will produce four times more beer than the family-owned craft brewery makes in Surprise.

“We couldn’t be more excited about joining the downtown Phoenix community and taking part in the revitalization of the area,” said State 48’s owner Mario Rana. “We hope to become a casual, friendly destination to gather with friends, coworkers, family and beyond over a craft beer born and brewed in Arizona.”

The brewery restaurant is on the west side of downtown Phoenix near the popular Crescent Ballroom restaurant, bar and concert venue.

It joins a roster of downtown bars and restaurants that includes Cornish Pasty Co., Seamus McCaffrey's Irish Pub and Bitter & Twisted Cocktail Parlour.

“State 48 is the perfect tenant to breathe new life into Welnick Marketplace while adding vibrancy to this up-and-coming section of Van Buren Street,” said CBRE’s Ackel. “We’re excited to see the tremendous momentum the brewery will bring toward the city’s vision for downtown Phoenix.”

The Welnick Marketplace building was first built in 1927 and operated as an arcade-style market with food vendors. It has also been an auto repair shop and print shop.

Former PMT Ambulance CEO Pat Cantelme and former Bar-S Foods CFO James Kuykendall bought the building in 2014. The property’s restoration has been led by Bob Graham, principal architect at Motley Design Group.

The firm also designed the DeSoto Central Market in downtown Phoenix. Mountain West Construction is the general contractor.

The property has state historic designation.

Mike Sunnucks writes about stocks and financial markets, real estate, government and sports business.

[CrestedSaguaro]

Updates on the Sheraton sale...

http://www.azcentral.com/story/news/loca...n-tax-break-buyer-tlg-phoenix/547244001/

[ASU Diablo]

Love his nickname lol

Anyways, new BBQ joint coming to the Flowers building. Is it fully leased up or is anotjer space still available? Taco Chelo should be close to opening I hope

https://www.bizjournals.com/phoenix/news...bq-opening-concept-in-new-roosevelt.html

[exit2lef]

Originally Posted by airomero83

Love his nickname lol

Anyways, new BBQ joint coming to the Flowers building. Is it fully leased up or is anotjer space still available? Taco Chelo should be close to opening I hope

https://www.bizjournals.com/phoenix/news...bq-opening-concept-in-new-roosevelt.html

Leoni's Focaccia is supposed to be moving there as well. I don't know if there's room for more tenants beyond the three restaurants announced.

https://downtowndevil.com/2017/04/25/858...ers-opening-sandwich-shop-in-the-blocks/

[TakeFive]

The city of Phoenix is on the rise
August 10, 2017 by Katie Couric - Yahoo News

I happen to find/watch this Yahoo exclusive(?) promotional video about Phoenix. Generally well done I thought.

Nice to see all the (increasing) development downtown and mid-town.

[fawd]

44 Monroe has started renovations of the common areas. Including the Lobby, 8th floor community room, grill area, and the pool.

Should be finished by the holidays.