Category: Press releases

Holualoa Companies Purchases Vacant Forbes Blvd. Office Building in Tucson, Plans $4 Million+ Revitalization

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A Tucson office property vacated in 2016 will soon undergo a significant revitalization effort to make it more desirable for businesses and better-suited for multitenant use.

 

The property, located at 2202 Forbes Blvd. in Tucson, is part of the larger Broadbent Interstate Center, which first took shape in the 1980s. The Forbes office building is a 58,000-square-foot back office building recently owned by Carondelet Healthcare. When Carondelet was purchased by Tenet Healthcare in 2016, Tenet moved its operations out of the building.

 

Holualoa Companies officially acquired the property on Sept. 6, and plans a $4 million renovation to transform the space for a wide range of medical, office and other tenants to meet rising demand across the region. The property will feature a market-leading parking ratio of 9 spaces per 1,000 square feet of rentable space.

 

Holualoa Companies’ Vice President of Finance Lani Baker said the property was particularly desirable because of its well-established location, its close proximity to Interstate 10 and the University of Arizona.

 

“There’s a significant need for quality office space in this area, so transforming this vacant property into desirable office space helps address the needs of this growing part of Tucson,” she said. “We have a number of companies that have already expressed interest in putting down roots at Forbes, and adding more parking spaces, upgrading building systems and otherwise enhancing its amenities will only increase its desirability.”

 

Holualoa Companies already has a large presence throughout Tucson, including extensive office, industrial and multifamily properties. The company’s planned $4,090,000 investment in the property will finance additional parking areas, leasing efforts and additional accommodations needed to make the property ideal for multi-tenant use.

Gateway at Tucson Apartments to Receive $10 Million Renovation to Meet Needs of Expanding Multifamily Market

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A Tucson multifamily residential complex is about to receive a $10 million renovation to transform it into a premier apartment community.

Gateway at Tucson Apartments, a 188-unit complex located at 2800 W. Broadway Road, will be completely renovated over the course of the next year. The complex, built in 2005 to serve college students, will be reintroduced to the market as a 272-unit multifamily community with exceptional amenities and a variety of floor plans available.

Holualoa Companies purchased Gateway in November 2018 with the intention of transforming it into a more dynamic and inviting residential community to help meet a surge in demand for multifamily in the Tucson marketplace. Multifamily occupancy in the Tucson market reached 95 percent in 2019, which has led to an increase in rents year-over-year of almost 8 percent.

Lani Baker, Vice President – Finance of Holualoa Companies, said the property was an ideal opportunity for renovation because of its location near Downtown Tucson.

“We look forward to transforming this property into a community that is truly inviting for residents wanting to live in this bustling area of Tucson,” Baker said. “Because of the significant need in the Tucson market for properties such as this, we’re confident that the project will be successful and will be a welcoming living environment for residents.”

Gateway will remain open for current residents during construction.

Holualoa Companies plans to split each of the existing 84 four‐bedroom units at Gateway — designed for groups of students — into one‐bedroom and two‐bedroom units, renovate all unit interiors, and remedy a significant amount of deferred maintenance as part of the renovation.

Holualoa Companies has an extensive experience with multifamily assets in Arizona, having acquired more than  5,700 units. The company also has extensive office and industrial holdings in Tucson.

Scottsdale North Marketplace sells for $16M

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A prominent north Scottsdale retail center has new ownership as a result of a $16 million sale that closed last week. Scottsdale North Marketplace, a 68,522-square-foot retail center located at Scottsdale Road and Lone Mountain Road, was purchased by a joint venture between Holualoa Companies and Epic Real Estate Partners in a $16 million transaction.

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Ownership Group Completes Purchase of Additional 21 Acres, 193,000 SF at Park Central to Consolidate Property; Announces Ambitious Phase II

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Ownership Group Completes Purchase of Additional 21 Acres, 193,000 SF at Park Central to Consolidate Property; Announces Ambitious Phase II

October 10, 2018 (posted date)

Tags: Park Central Mall, Holualoa Companies

 

$28 Million Transaction Closes Wednesday; Plans Underway for Major New Residential Project Along With Creighton Health Campus, Expanded Office/Retail Redevelopment

The ownership group that is redeveloping the Park Central Mall property has purchased an additional 21 acres of property and an additional 193,000-square-foot building, consolidating ownership of Park Central for the first time in decades.

And, as part of the purchase, Tucson’s Holualoa Companies and Peoria-based Plaza Companies announced plans for an ambitious Phase II for the redevelopment, which will include a new nine-story residential complex to go along with a new Creighton University health sciences building.

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Construction to Begin On Fifth SkySong Office Building

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The fifth Class A office building will rise at SkySong, The ASU Scottsdale Innovation Center in the coming months.

With the other four SkySong office buildings at high occupancy, the SkySong development team will begin work on SkySong 5, with a groundbreaking ceremony to take place on July 9. The building will be six stories — the tallest on property yet — and will include a number of features that are new to the project.

With the newest building, the total SkySong project will reach about 868,457 square feet of commercial building.

The design of SkySong 5 includes extensive outdoor work and meeting spaces as well as public art features, and continues the trend at the property of each new building having unique and distinctive features, including a large second-story outdoor patio and event space. The cost of the building and the accompanying parking structure that will be built will exceed $43 million

Read the entire article at this link

 

SkySong Inks Leases Totaling More Than 37,000 Square Feet

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Three new leases and two renewed leases totaling more than 37,000 square feet have SkySong, The ASU Scottsdale Innovation Center nearing full occupancy in its four commercial office buildings.

The new leases include:

  • Leading national IT solutions company vCore Techology Partners
  • IntelliTRACS, a real-time identification, assessment, and financial exceptions control provider
  • Medical device company Neolight

vCore Technology Partners is moving its national corporate headquarters and approximately 50 employees to a 9,300 square-foot space in SkySong 4. vCore provides customized IT solutions such as infrastructure, cloud storage and data protection to more than 100 companies across the United States and Canada. It currently has seven locations.

“SkySong has the high tech feel, vibrant public spaces, modern architecture, and nearby amenities that will enable us to continue to attract and inspire the brightest minds to keep us at the forefront of the Information technology industry,” said vCore founder and CEO Steve Leavitt.

intelliTRACS is movings its headquarters and twelve employees to an approximately 4,000 square-foot space in SkySong 4. It provides identification, assessment, and control of financial exceptions caused by payment failures, trade breaks, and service inquiries. It is part of SunGard’s IntelliSUITE of solutions.

Neolight, which was founded within SkySong, is moving its 10 employees into a 2,300 square foot space in SkySong 2. The company, which designs and manufactures technology to treat infants with life-threatening medical conditions, will house their headquarters and research facility at SkySong, providing a great example of a startup company growing and expanding inside the project.

In addition to the new leases, two SkySong tenants have also renewed leases, including:

  • Century Link has renewed its 12,564 square-foot space with a long-term lease.
  • Canon has renewed its 9,081 square-foot space with a long-term lease.

Read the entire press release at this link.

Tech Giant Oracle Moves Into Large Presence at SkySong

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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

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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.

 

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