24,000 sf Restaurant & Retail Component of Mixed-Use Development Breaks Ground

PHOENIX, AZ – WINLEE Development, the real estate development division of locally based investment firm Winfield Lee Investments, commenced construction this week on Chandler Viridian PRIMEGATE at Fashion Square.  PRIMEGATE is the 24,000-square-foot distinctive restaurant and retail component of the 25-acre Chandler Viridian mixed-use project being developed by the consortium of Hines, Alliance Residential, Concord Hospitality and WINLEE.  The project is located at the NWC of the freeway Loops 101 & 202 interchange and prominently at the main entrance to the Fashion Center super regional luxury mall.

In addition to the PRIMEGATE amenities, the integrated multi-use project features an Alliance Residential Broadstone luxury multi-family community that is nearing completion, a 250,000-square-foot six-story Class-A office building by Hines and a Concord Hospitality Cambria Hotel, all interconnected via jogging trails and grand pedestrian promenades.

WINLEE also announced today that Panera Bread is excited to be among the first users locating at PRIMEGATE, with more tenant announcements to follow in the coming weeks.

PRIMEGATE is situated on the hard corner of the Loop 101 Freeway/Price Road and Frye Road at the entry to Chandler Fashion Center and offers direct freeway visibility and access.  It sits at the gateway to Chandler’s highly regarded Price Road employment corridor as well.

“We are excited to be under construction as planned on this distinctive project and to participate in bringing to fruition the larger vision of the mixed-use development.  It didn’t take Panera Bread, a quality operator with sophisticated real estate analysis, very long to realize the unique nature the PRIMEGATE location affords. Panera’s coming on board so quickly underscores the dynamic shift that is occurring as Frye Road supplants Chandler Boulevard as the primary entrance to the mall area for the Southeast Valley.  Frye Road is emerging as the preferred route quite simply because it provides greater ease of access to more amenities from more directions for more people,” said WINLEE’s President, Peter Nelson.

PRIMEGATE is part of the Chandler Fashion Center overlay and is completely encircled by Chandler Fashion Center Mall, Harkins Fashion 20 Theatres, Super Target, Costco, the Chandler Viridian class-A residences, offices & hotel and the Loop 101 & 202 freeways.

LeDonna Spongberg and Traci Russell of CBRE, who are handling the leasing of PRIMEGATE, observed “it isn’t often that one site can boast lifestyle, office, residential, hospitality, entertainment, daily needs, a major power center and super-regional mall users all as anchors.  The confluence of all of these draws, together with freeway exposure and immediate gateway access to Chandler’s highly regarded residential and employment demographic, makes PRIMEGATE one of the truly premier locations in the entire Valley.”

Chandler Viridian PRIMEGATE at Fashion Center is being developed by WINLEE Development (a division of Phoenix-based Winfield Lee Investments, Peter Nelson and Gary Emery, principals) and features approximately 24,000 square feet of specialty restaurant and retail amenities. Construction began recently and will be completed by Q2 2017.  Tenants include Panera Bread with additional announcements coming imminently.

• Contractor: Wespac Construction
• Architect: Reigle & Associates
• Engineer: Larson Engineering
• Leasing: CBRE, LeDonna Spongberg & Traci Russell
• Financing: Alliance Bank, Jonathan Bouvet
• Counsel: Berry Riddell, LLC & Sacks Tierney, P.A.

Phoenix, AZ – CBRE has been awarded the marketing assignment for the ±1 million-square-foot mixed-use Esplanade complex, including buildings I, II, IV and V. The landmark office and retail development is located at the southeast corner of Camelback Road and 24^th Street.

LBA Realty, who purchased Esplanade I, II, IV and V from MetLife in late December 2015, has tapped CBRE broker Jerry Roberts to oversee the marketing and leasing of the property’s office space, while LeDonna Spongberg and Traci Russell, also with CBRE, will oversee the retail portion.

“The Esplanade is considered the most iconic office complex in all of metropolitan Phoenix and already boasts an impressive tenant roll, including Gallagher & Kennedy, Merrill Lynch, CBRE, UBS Financial Services, DLA Piper, and AEON Financial, among others,” said CBRE’s Roberts. “LBA is a sophisticated owner/operator with a keen sense of what modern office users want, and CBRE is excited to play a part in the next evolution of the Esplanade.”

LBA Realty is currently implementing a refresh of the property, including renovations to the outdoor people places and retail space, as well as the internal common areas and lobbies.

“The Esplanade is one of the few true mixed-use developments in the Camelback Corridor, and it’s Main and Main location at the 24^th Street intersection makes it the most high-profile,” said the CBRE retail brokers. “LBA has a lot of experience with this type of development and they understand the nuances that will be key to its success. We’re looking forward to bringing in restaurant and retail uses that will complement existing tenants and make the Esplanade a world-class, amenity-filled environment for both the immediate office users and the surrounding residential and office projects.”

The five building complex was originally developed over the course of just over ten years with the first building coming online in 1989 and the last in 2002. Located on East Camelback Road in Phoenix, the Esplanade benefits from proximity to a wealth of amenities, including Biltmore Fashion Park with its myriad of iconic retailers and restaurants. Offering office tenants a vibrant community in which to work, shop and dine, the Esplanade epitomizes the “lifestyle” type of work environments modern office users want.

The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from January 4 thru 8, 2016

RETAIL – 2929 N 75^th AVE., PHOENIX
A lease for 2,777-square-feet in Westview Plaza to HB1 Investments, LLC was recently consummated.  The location of the property is the NEC of 75th Avenue & Thomas Road in Phoenix, AZ. The owner of the center is Westview Plaza, LLC. A Pollack Investments property. Kevin Roessler of Rein & Grossoehme represented the Tenant.

RETAIL – 3308 N McCLINTOCK DR., TEMPE
A retail lease for 1,500-square-feet at The Walgreens Plaza at 3308 N. McClintock Drive in Tempe, AZ to ComCare Medical was recently consummated. The owner of the center is McClintock, LLC. Jared Lively of Rein & Grossoehme represented the Landlord and the Tenant on this transaction.

RETAIL – 5800 W. PEORIA AVE., GLENDALE
A lease for 1,470-square-feet at The Glendale Galleria to One Stop Nutrition was recently consummated. The location of the property is the NEC of Peoria and 59th Avenue in Glendale, AZ. One Stop Nutrition has 21 other locations. The owner of the center is Brixmor. Joshua Stewart of Rein & Grossoehme represented the Tenant and Traci Russell of CBRE represented the Landlord.

RETAIL – NEC BROWN & RECKER, MESA
A lease for 1,200-square-feet in the Sycamore Shopping Center to Advantage Pure Flo was recently consummated. The location of the property is in Mesa, AZ.  Joshua Stewart of Rein & Grossoehme represented the Landlord and Tina Larsen of Platinum Asset Management represented the Tenant.