PHOENIX, Arizona – The repositioning of Corporate Center has begun. NAI Horizon has been assigned the exclusive leasing assignment for the 440,000-square-foot office complex along the reinvigorated I-17 corridor in North Phoenix.
Bay Pacific Corporate Center Phoenix, LLC, has 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 has been hired to create the master plan for repositioning of the asset at 9630-10220 N. 25th Ave.
The improvements will bring the eight-building portfolio up to the new live-work-play requirements of today’s tenants. The multi-million dollar repositioning 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. Metro Center Mall, across I-17 from Corporate Center, was purchased by the Carlyle Group. Carlyle is redeveloping the iconic Valley landmark. The City of Phoenix is upgrading the popular, 80-acre Rose Mofford Park adjacent to Corporate Center.
“With the increase of leasing velocity in the I-17 corridor and large blocks of space for national and corporate users diminishing,” Giammarco said, “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-square-feet. The property is ideal for national corporate back office clients. By 2026 Metro light rail will serve the area.
“This amenity-rich project encompasses everything millennials want in today’s workplace,” Pancrazi said. “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.”