Category: Blog Posts

Leasing activity at Park Central Mixed-use development project outdoor image
Leasing activity at Park Central Mixed-use development project outdoor image

Park Central Ramps Up Leasing Activity Despite Slowdown

Tags: , , , , ,

Three New Leases Signed in Past Few Months at Revitalized Mixed-Use Development

PHOENIX (April 29, 2020) – The revitalized Park Central project has enjoyed increased leasing activity despite the economic downturn, with three new leases signed in the past few months. 

New Leasing Activity in Phoenix

Interface Technologies has signed a lease to occupy the entirety of the 15,500-square-foot Graham Building.  Interface is currently building out a state-of-the-art office complete with multiple studios to broadcast their industry leading IT training classes to companies around the globe.  Dustin McFarland with Savills represented the tenant in the transaction.

Additionally, District Medical Group renewed their 56,000-square-foot lease in the Burgbacher building for 10 years.  DMG Children’s Rehabilitative Services is the largest multi-specialty interdisciplinary clinic in the state of Arizona with over 25 medical specialties and is designed to meet the unique healthcare requirements of special-needs children.  DMG provides direct care to the community with over 66,000 visits annually.  Bo Sederstrom represented DMG in the transaction.

And, Firestone Tire Center has renewed its lease on its building at the northwest corner of the property for another 10 years. A tenant for over 50 years at Park Central, Firestone has been serving the midtown neighborhood at its current location on the property since 1965.  

Bill Cook and Margaret Lloyd of Plaza Companies represented the ownership group in all three transactions.

Park Central Improvements and Activity

The Park Central development team also continues its work on making the project more robust, including a new conference center that is being built for use by all Park Central tenants. The new conference center will be located in the Goldwater Building and can accommodate up to 85 people for tenants to utilize.  The conference center will also have a galley and state of the art A/V equipment. 

Stan Shafer, Chief Operating Officer for Holualoa Companies, said the project’s leasing momentum is a great sign despite the economic downturn created by the pandemic. 

“We are pleased to see the continued interest in Park Central especially considering the current economic conditions,” he said. “It is a sign that the project remains truly desirable thanks to its innovative and welcoming design, exceptional location and strong surrounding support industries.”

Sharon Harper, Chairman and CEO of Plaza Companies, said the leasing momentum is an indicator of Park Central’s role in keeping Phoenix’s economy strong. 

“We want Park Central to continue to be a hub for our local economy as we enter a recovery phase in the coming weeks and months,” she said. “We are looking forward to Interface Technologies new state of the art facility at Park Central and are very pleased to continue our long-term partnerships with District Medical Group and Firestone.”

The Dream Development Team

Plaza Companies and Holualoa Companies are teaming up to redevelop Park Central, which once held court as the city’s first official large-scale shopping mall. The companies are transitioning the project to a bustling community hub ideal for playing, working, congregating and celebrating the arts. The first 337,000 square feet of redeveloped office and retail is almost complete. Leasing activity for office and retail space is ongoing at the property and interest has been strong in the newly revitalized property. 

The new Park Central includes 450,000 square feet of Class A creative office space available for lease with the ability to accommodate tenants ranging from 3,500 square feet to more than 100,000 square feet in size. It features exclusive tenant patios, on-site restaurants and amenities, a stunning mid-century modern design, 15-25 foot ceilings, extensive bike paths and light rail access and ample parking. 

For office leasing, tenants and brokers can reach out to Andrew Cheney with Lee & Associates (502.954.3769) or Bill Cook with Plaza Companies (623.344.4526).  For Retail leasing contacts are Brent Mallonee with Cushman and Wakefield  (602.224.4437)  or Margaret Lloyd with Plaza Companies (623.344.4558).

For more information on the project, visit www.parkcentralphoenix.com.

Tech Giant Oracle Moves Into Large Presence at SkySong

Tags: , ,

One of the giants of technology companies is relocating its presence in Arizona by leasing a significant space at SkySong, The ASU Scottsdale Innovation Center.

Oracle, headquartered in Redwood City, California and a company known as one of the largest and most innovative in the tech sector, is opening a +/-15,000-square-foot office in SkySong 3. The space will house more than 75 employees in critical areas such as software development, human resources and sales.

Oracle is a global provider of enterprise cloud computing, providing leading-edge capabilities in software as a service, platform as a service, infrastructure as a service, and data as a service. Today, 430,000 customers in 175 countries use Oracle technologies to seize business opportunities and solve real, tangible challenges.

Read the entire article at this link: SkySong Oracle Release

Holualoa Companies Vice President-Finance, Lani Baker, is an honoree for Tu Nidito Remarkable Moms

Tags: , ,

We are pleased to announce that Holualoa Companies Vice President-Finance, Lani Baker, is an honoree for Tu Nidito Remarkable Moms. Each year, Tu Nidito recognizes local woman who serve as outstanding role models in the community. Aside from being a devoted wife, mother and step-mother, Lani volunteers her time to multiple organizations. Congratulations to Lani on this well-deserved honor! 

Click https://www.tunidito.org/ to learn more about Tu Nidito or to purchase tickets, sponsorship opportunities and tribute ads to this year’s Remarkable Celebration.

 

New Element Hotel to Break Ground at SkySong Thursday, March 15

Tags: , ,

Construction is slated to begin this month on a 157- room hotel that will provide critical support for the more than 50 businesses that now call Scottsdale’s SkySong home as well as the surrounding Scottsdale community.

An Element hotel, a high-end, boutique addition to the Marriott family of hotels, will soon occupy the southwestern corner of SkySong, the ASU Scottsdale Innovation Center complex near Scottsdale Road and Enterprise Drive.

Developed by Jackson-Shaw, one of the nation’s most notable names in hospitality development, Element covers an expansive, 99,345 square feet of space and provides a highly sustainable, health-focused environment for guests. Boasting 2,170 square feet of communal and meeting space and a 7,572 square-foot open-air courtyard, Element offers a wide variety of amenities for guests, ranging from a natural saline swimming pool to an oversize gym and bike rental opportunities.

“Element hotels rely on green building, sustainable designs and eco-friendly practices, and we’re honored to play a role in bringing a smarter, more environmentally conscious and wellness- focused place to stay in the Scottsdale area,” said Michele Wheeler, President and Chief Operating Officer for Jackson-Shaw. “It offers the elegant, luxurious nature many leisure travelers associate with Scottsdale, but it also serves as a tremendous asset for business and group travelers that will help SkySong and the city draw even more businesses and job opportunities to the area.”

Read the entire article at this link.

2017 Property Sales

Tags: ,

Holualoa sells 40% of The Review Avenue self-storage facilty in Queens, New York City sold on January 4, 2017.

Holualoa sells The 120-unit Dakota Canyon Apartments in Santa Fe, New Mexico, on April 6, 2017.

Holualoa sells The 33-unit Jentilly Rental Townhomes in Tempe, Arizona,  on April 24, 2017.

Holualoa sells The 162,000 SF Scottsdale Towne Square shopping center in Scottsdale, Arizona, on April 27, 2017.

Holualoa Companies Property Acquisitions 2016

Tags: ,

Holualoa acquires  The Mint,  42‐unit, historically significant, Class‐A, multifamily property located in the City West neighborhood in Downtown Los Angeles .

Holualoa acquires 388 Cordova – On July 28, 2016, the joint venture acquired an eight-story, 121,656 SF vacant office tower with an adjacent 340 space, four-story, parking structure in downtown Pasadena, California. . The office tower into 73 condo units on floors three through eight with ground floor retail space (9,307 SF), and second floor office space (15,300 SF). 58 residential units around the existing parking garage.

Holualoa acquires the majority  348 Estabrook, a 38-unit, apartment property in San Leandro, California on January 4,2016. The units will be renovated during the first 12 months of ownership.

Holualoa acquires Arrowhead Executive Center, a 99,062 SF multi-tenant office property in Glendale, Arizona  on March 31, 2016.

Holualoa Companies Property Sales 2016

Tags: ,

Holualoa sells Green Valley Professional Plaza in Green Valley, Arizona sold on March 3, 2016.

Holualoa sells Mission Creek Apartments in Tucson, Arizona sold on March 30, 2016.

Holualoa sells Hyde Park Condominiums in Chicago, Illinois sold on November 17, 2016.

Holualoa sells The Collonge mixed use property in Geneva, Switzerland on December 22, 2016.

Holualoa Companies Property Sales, 2015

Tags: ,
  • Chevilly Larue & Les Ulis, in a 68/32 joint venture, four industrial buildings (sold building B on 5/7/2014 for $3,871,306 and building A on 11/30/2015 for $1,642,200) acquired 11/22/2004 totaling 187,475 SF (62,915 SF sold to date) in SE of Paris, France.
  • Harper Court Apartments, in a 90/10 joint venture, an apartment property with 4,680 SF ground floor retail acquired 5/30/2013 totaling 44 units in Chicago, IL (sold 11/30/2015).
  • Holiday Inn Stapleton, a full-service, hotel acquired 6/4/2009 totaling 300 rooms in Denver, CO (sold 10/15/2015).
  • Columbia Industrial (Butterfield Industrial), an industrial building acquired 3/20/1997 totaling 57,263 SF in Tucson, AZ (sold 10/14/2015).
  • Tucson Airport Center, a five-building back-office and industrial property acquired 9/1/2005 totaling 129,097 SF in Tucson, AZ (sold 10/14/2015).
  • Espace République (Boulanger), in a 68/32 joint venture, a five-story office building acquired 2/14/2004 totaling 27,340 SF in Paris, France (sold 10/8/2015).
  • Boulogne Studios, in a 4/96 joint venture, a three building, film studio/office facility acquired 11/12/2013 totaling 81,461 SF in Boulogne, France (sold 9/17/2015).
  • Arcadia Park Apartments, a garden-style apartment complex acquired 7/14/2011 totaling 288 units in Tucson, AZ (sold 5/28/2015).

Holualoa Companies Property Acquisitions, 2015

Tags: ,
  • South Catalina, in a 37/63 joint venture, a 47-unit, Class B, multifamily building acquired 11/23/2015 totaling 22,904 SF in Los Angeles, CA.
  • Delémont, in a 33/67 joint venture, retail property acquired 9/25/2015 totaling 30,957 SF in Delémont, Switzerland.
  • Stone Avenue North, in a 80/20 joint venture, construction of in-demand high density apartments acquired 9/24/2015 totaling 35,619 SF in Tucson, AZ.
  • SkySong 4, in a 34/66 joint venture, a development, Class A, LEED-certified office property acquired 9/11/2015 totaling 141,109 SF in Scottsdale, AZ.
  • Thatcher Medical Center, in a 40/60 joint venture, a two-building, 3-Story medical office complex (12,000 SF) with the ability to entitle up to 130 multi-family/condo units acquired 8/20/2015 totaling 73,864 SF in Pasadena, CA.
  • 515 Broadway, in a 5/95 joint venture, a 180-unit mixed-use multifamily project with 18,200 SF of retail acquired 7/16/2015 totaling 194,903 SF in Glendale, CA.
  • Osborn Office, in a 50/50 joint venture, vacant, two-building office property acquired 6/19/2015 totaling 33,000 SF in Phoenix, AZ.
  • Boulder Canyon Condominiums, in a 50/50 joint venture, high-quality condominiums acquired 6/15/2015 totaling 32 units in Oro Valley, AZ.
  • Dewoitine, in a 35/65 joint venture, a six-building office property acquired 5/29/2015 totaling 134,840 SF in Velizy, France.
  • Villebon, in a 35/65 joint venture, a three-building office/industrial property acquired 5/29/2015 totaling 259,313 SF in Villebon-Sur-Yvette, France.
  • 44 Monroe, in a 23/77 joint venture, the tallest residential building in Arizona at 36-stories acquired 4/14/2015 totaling 249,489 SF in Phoenix, AZ.
  • Stone Avenue Rental Townhomes, in a 70/30 joint venture, 0.62 acre parcel for construction of a 25-unit rental townhome development acquired 3/5/2015 totaling 25 units in Tucson, AZ.
  • Review Avenue, in a 12/88 joint venture, institutional-grade self-storage development acquired 1/29/2015 totaling 2,219 units in Queens, NY.
  • Alma School Rental Townhomes, in a 70/30 joint venture, a 4.9-acre parcel for construction of a 77-unit rental townhome development acquired 1/7/2015 totaling 77 units in Chandler, AZ.

Holualoa Companies Property Sales, 2014

Tags: ,
  • Tanque Verde Apartments, a garden-style apartment complex acquired 3/25/2010 totaling 297,807 SF in Tucson, AZ (sold 9/11/2014).
  • Allison Condominiums, a garden-style apartment complex acquired 4/5/2011 totaling 152 units in Scottsdale, AZ (sold 6/19/2014).
  • Hayden Square, a downtown multi-story mixed-use (office and retail) property acquired 5/27/2004 totaling 106,834 SF in Tempe, AZ (sold 5/15/2014).
Tucson • Los Angeles • Kailua-Kona • Phoenix • Paris