JV to Begin $25 Million Renovation of Arizona Center in Phoenix

by Katie Sloan

Phoenix — A joint venture between Parallel Capital Partners and Angelo, Gordon and Co. is set to begin a $25 million renovation of Arizona Center, a 1 million-square-foot mixed-use development located in Phoenix.

The renovation will include new landscaping, lighting, fixtures and finishes, wayfinding and furnishings. The current parking garage will also be upgraded, and a valet parking element will be added.

Construction is set to begin in early 2017, and will take approximately nine months to complete. All tenants at the office, retail and entertainment center will remain open during the renovation.

Gensler is the architect in charge of the retail renovation. PdO will work on the interior redesign for One Arizona Center, the office component of the project, and Smith Group JJR is supporting development strategies for the entire property. Tempe, Arizona-based Zion & Zion will also help to rebrand the center. 

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