Freeport-McMoRan Center (One Central Park East) - Phoenix, AZ - Page 8

sundevilgrad · #**141** Posted **Nov 11, 2007, 10:33 PM**

Pretty sweet, thanks for the link...

AZ KID · #**142** Posted **Nov 11, 2007, 11:12 PM**

no problem. Glad to help =)

andrewkfromaz · #**143** Posted **Nov 12, 2007, 3:04 AM**

Quote:

Originally Posted by AZ KID

I
The coolest info I found was the landscaping that is planned. It states on page 20 that it will include a pituresque plaza with mature shade trees, walkways, and benches. All of the plantings will be indigenous to Arizona and will have a modern irragation system that will aid water conservation.

Fancy stuff. This project really makes me excited.

HX_Guy · #**144** Posted **Nov 13, 2007, 7:55 PM**

They have started to bid the foundation columns...

PHX NATIVE 929 · #**145** Posted **Nov 13, 2007, 8:17 PM**

Can't wait to see this thing come out of the ground.

Thanks for the continued photos, HX.

CANUC · #**146** Posted **Nov 13, 2007, 9:14 PM**

OK, correct me if I’m wrong but 44 Monroe broke ground roughly a year and a half ago and probably has about six more months of trim work left before residents will move in or the building itself will be called complete, so about 2 years total from ground breaking to completion. Now unless I’m reading a mis-quote how in the hell is this building going to be complete by ‘fall of 2008’? Maybe they meant fall of 2009?

HX_Guy · #**147** Posted **Nov 13, 2007, 9:25 PM**

Well, no...it seems accurate for some reason. We have been told that since this is a steel frame instead of concrete, it will go up faster. Also, somehow or another the building will not have any internal columns it seems...each floor will be wide open aside from the elevator core, so maybe that helps move things along faster.

The FAA clearance for the work schedule shows 10/01/2007 - 10/31/2008.

kevininlb · #**148** Posted **Nov 13, 2007, 9:43 PM**

Yeah, I sort of wondered about that fall 2008 projection, too. But how long has ASU dorm 1 been under construction? It's been up to floor 13 or so for a while, and it seemed like it only broke ground a few months ago.

HX_Guy · #**149** Posted **Nov 13, 2007, 9:52 PM**

One Central Park East's own thread in the Construction forum:

http://forum.skyscraperpage.com/showthread.php?t=141222

nbrindley · #**150** Posted **Nov 14, 2007, 3:44 AM**

also, a condo tower requires considerably more finish work than an office tower. Think of all those kitchens and bathrooms that need to be installed in a condo tower. Also, lots more interior walls to frame. Each floor of CPE will only need the elevator core, a pair of bathrooms, and a bunch of carpet (for the most part).

ConstruktPhx · #**151** Posted **Nov 14, 2007, 5:31 AM**

Quote:

Originally Posted by nbrindley

also, a condo tower requires considerably more finish work than an office tower. Think of all those kitchens and bathrooms that need to be installed in a condo tower. Also, lots more interior walls to frame. Each floor of CPE will only need the elevator core, a pair of bathrooms, and a bunch of carpet (for the most part).

You're correct nbrindley, the OCPE contract and design is for a "core & shell" building only....so the only interior build-out will be the entry lobby, elevator lobbies, restrooms, and any other items required to get a C of O for a core & shell bldg. All of the office build-out "tenant improvement" work will be per the specific tenant's requirements, and will be separately contracted and designed. Therefore, core/shell should be done by Fall 08, while the tenant improvement (TI) would extend past that as tenants sign on and lease agreements are made. This would also be a separate permit with the city.

andrewkfromaz · #**152** Posted **Nov 14, 2007, 4:15 PM**

^^^ Good point. I wonder if even the developer would know when tenants would start actually moving in and occupying the building. I'll bet the real estate guys would know.

desertdj · #**153** Posted **Nov 14, 2007, 4:24 PM**

I'm guessing they are having their ground breakin ceremony today, or one of their fancy developer parties, they had valet parking in front of the ASU building and they had the white tents and black carpet down on the N.W. corner of the lot.

HX_Guy · #**154** Posted **Nov 14, 2007, 5:01 PM**

Yea, the groundbreaking party is today...I wonder what time? There will probably be something on the news about it.

Kroney · #**155** Posted **Nov 15, 2007, 2:08 AM**

sorry for posting again... I just noticed HX Guy already posted this in the PHX Development News Thread

Businesses, Phoenix await new high-rises

Andrew Johnson
The Arizona Republic
Nov. 14, 2007 05:17 PM
Businesses and real-estate analysts are eagerly awaiting the completion of two high-rise projects in downtown Phoenix that are expected to help ease a chronic office-space shortage in one of the Valley's top business markets.

One of the towers - known as One Central Park East - officially moved beyond the planning phase Wednesday morning during a groundbreaking ceremony attended by top city officials.

The 26-story building is expected to deliver 485,000 square feet of high-end office space by fall 2009. And it is competing with CityScape, a $900 million mixed-use development located a few blocks to the south, for the distinction of being the first major office tower to be added to the downtown skyline in eight years.

CityScape, located on three city blocks between Second Street and First Avenue and Washington and Jefferson streets, held its groundbreaking ceremony last month. Plans call for the CityScape office tower to include 600,000 square feet of Class A office space; its first phase is also slated for completion in fall 2009.

The sudden commercial real-estate development boom is significant considering that the last high-rises built in Phoenix's central business district - Collier Center and Phelps Dodge Tower - were completed in 2001.

"There's a lot of interested in the project at the moment," said Jim Fijan, an executive vice president with the Phoenix office of CB Richard Ellis, which is handling leasing for One Central Park East.

One Central Park East, which will be located at the northeast corner of Central Avenue and Van Buren Street, is estimated to cost $175 million and comes at a time when downtown Phoenix is being plagued by what brokers consider to be unusually low vacancy rates.

The market is so tight, in fact, that some businesses are being forced to seek space elsewhere or pay higher-than-average rents.

Consider: Downtown Phoenix south of McDowell Road saw an office vacancy rate of 6.95 percent in the third quarter, according to commercial brokerage CBRE data. By comparison, the vacancy rate was 11.19 percent in the entire central business district, which includes Midtown, 12.64 percent in the Camelback/Piestewa Peak submarket, and 16.31 percent in north Phoenix.

And while One Central Park East and CityScape pose competition for each other, Fijan said the demand for space downtown is great, and that is only likely to grow as the projects progress.

Meanwhile, Andrew Conlin, a member of the development team behind One Central Park East, said that once finished, the tower should help law firms, accounting businesses and others who want to be downtown achieve their goals.

Conlin, managing partner of Chicago-based developer Mesirow Financial Real Estate Inc., said the One Central Park East's proximity to the future light-rail line would be a draw for firms. Mesirow is partnering with A&L Phoenix Development LLC and the National Electric Benefit Fund to develop the project, which will be located adjacent to Arizona State University's downtown Phoenix campus.

Developers have not announced potential tenants for One Central Park East, but Fijan, the CBRE broker, said his team has talked with financial-services firms who are interested in the future building.

HX_Guy · #**156** Posted **Nov 15, 2007, 2:20 AM**

Pictures from the ground breaking ceremony (provided by AZCentral.com)

AZ KID · #**157** Posted **Nov 17, 2007, 1:47 AM**

If you go to this link you will find more pictures and more information on the groundbreaking.http://1cpe.com/ceremony.html

Also i found it interesting that the press release http://1cpe.com/doc/OCPE-Press-Release.pdf they mention that completion will come in the fall of 2009

desertdj · #**158** Posted **Nov 17, 2007, 4:14 PM**

HX_Guy · #**159** Posted **Nov 17, 2007, 4:30 PM**

Excellent photos! They look like they were taken from the Chase tower, do you work there? If so, that's going to be a great place to see this rising and take some photos for us.

tempedude · #**160** Posted **Nov 17, 2007, 5:03 PM**

Quote:

Originally Posted by desertdj

Nice pics. Curiosity has me though. In this picture, what are those cables hanging in the foreground? Yea, it does look like they were taken from Chase Tower.