Midtown Phoenix is no longer a canyon of far-from-full office towers built more than three decades ago.
The area that businesses moved away from in the late 1990s is now drawing start-ups and big companies that want to be near light rail, new restaurants, apartments, redeveloped buildings and revived historic neighborhoods.
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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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Park Central Mall Purchase Closes, Renovation Plans Unveiled
Plaza Companies, Holualoa Companies Complete Purchase of 337,000 Square Feet;
Purchase and Improvements Valued at $57 Million
PHOENIX, Arizona (date, 2017) — Plaza Companies and Holualoa Companies have completed the purchase of a significant portion of the iconic Park Central Mall in Phoenix, and have unveiled plans for renovation of the property.
The overall price of the purchase and expected renovations is approximately $57 million, and construction work will begin on the transformation effort in the coming weeks. The new ownership group is working with architect richärd+bauer and DPR Construction to reinvent Park Central by converting it into a modern, mixed-use, competitive economic engine for the Valley of the Sun.
Already, the team has developed a new brand identity for Park Central that will be implemented throughout the site as part of the redevelopment — the new look, along with extensive renderings and the new project site plan, can be viewed on the project’s new web site, www.parkcentralphoenix.com.
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PHOENIX, Arizona (September 12, 2017) — It’s a change that has been decades in
coming for one of central Phoenix’s most iconic properties. But the time for a new Park Central
Two of Arizona’s most prominent commercial real estate firms — Plaza Companies and
Holualoa Companies — have teamed up to purchase a significant portion of the Park Central
Mall site, once one of the Valley’s premier properties and one that has long been a target for
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