The renaissance of Corporate Center is underway. (Submitted photo)
NAI Horizon has received the exclusive leasing assignment for the 440,000-square-foot office complex along the renovated I-17 corridor in North Phoenix.
According to a press release, Bay Pacific Corporate Center Phoenix hired NAI Horizon’s Troy Giammarco, Tyler Smith and Nathan Pancrazi to lead the leasing efforts. In addition, the architectural firm of Ware Malcomb and its team of Kevin Evernham, Niki Ward, Josh Thompson and Amanda Wells was hired to create the master plan for repositioning of the asset at 9630-10220 N. 25th Ave.
“With the increase of leasing velocity in the I-17 corridor and large blocks of space for national and corporate users diminishing,” Mr. Giammarco said in a prepared statement. “The repositioning of the portfolio is perfectly timed to take advantage of both rising corporate confidence and a shrinking pool of availabilities in the submarket. The renaissance of Corporate Center is underway.”
Corporate Center features much sought after big blocks of space with mountain views ranging from 15,000 SF to 75,000 SF. The property is ideal for national corporate back office clients. By 2026 Metro light rail will serve the area, the release added.
“This amenity-rich project encompasses everything millennials want in today’s workplace,” Mr. Pancrazi said in a prepared statement. “It is conveniently located on I-17 and offers multiple public and private transportation options, shortening employee commute times. Rose Mofford Park, coupled with the surge of restaurants and night life along 7th Street, embodies the environment necessary for attracting and retaining the brightest employees in today’s competitive job market.”
Improvements are said to bring the eight-building portfolio up to the new live-work-play requirements of today’s tenants. The multi-million dollar renovations will consist of:
•Rebranding of the property
•New boulevard entries and monument signage
•Upgraded building entries and lobbies
•Upgraded building standards for tenant improvements
•Collaborative tenant spaces
•Site improvements and landscape upgrades
•On-site food-service provider
The submarket is also undergoing a renaissance of sorts, detailed the release, adding that Metro Center Mall, across I-17 from Corporate Center, was purchased by the Carlyle Group.
Carlyle is re-developing the iconic Valley landmark. The City of Phoenix is upgrading the popular, 80-acre Rose Mofford Park adjacent to Corporate Center.