New Tenants, Restaurants and Construction Continue Project’s Momentum
A flurry of activity is taking place at the revitalized Park Central in Phoenix as the project’s momentum continues to build as its redevelopment continues.
Several key milestones have occurred recently at the midtown Phoenix property, including new tenants, new restaurants, construction of a dual-branded hotel property and more. Some of the recent activity includes:
• Construction is more than halfway complete on the new dual-branded hotel building, which will be home to both Home2 Suites and Tru by Hilton. The new five-story hotel topped out (reached its maximum height) in October and is on-track to be completed in Fall 2024. In December, South Mountain Community College students participating in the Construction Workforce Development program in partnership with the City of Phoenix and Layton Construction will be at the hotel for the start of their on-site experience.
• Industrious, the highest-rated flexible workplace company, will soon hold the grand opening of its new flexible workplace at Park Central. The space is the fifth location in Arizona and the second in Phoenix, highlighting the company’s commitment to increasing its presence in major markets across the U.S.
• EoS Fitness, a leader in the fitness industry offering its High Value Low Price (HVLP)® gyms with more than 100 locations open or on the way throughout the country, is opening its new 42,500-square-foot facility in Park Central’s Goldwater Building to open by the end of the year.
• Earlier this year, the family behind the wildly popular Gadzooks restaurants, brothers Aaron and Jared Pool, opened an already popular craft beer and wine concept called The Green Woodpecker.
• Additionally, a new Starbucks location opened along Central Avenue featuring a drive-thru and an indoor seating area.
• Earlier this year, the City of Phoenix designated Park Central as part of the PHOENIX MEDICAL QUARTER. This designation encompasses over 100 acres in the midtown region in general and Park Central specifically. Some of the key members include Creighton University Health Sciences Campus, Barrow Neurological Institute, Dignity Health St. Joseph’s Hospital and Medical Center campus, WearTech Applied Research Center and RadNet imaging clinic at Park Central, Alliant School of Nursing, WCUI Smith Chason, DMG Children’s Rehabilitative Services and several others at Park Central.
• Creighton University is expanding its facilities in its new Health Sciences Building by completing construction on the building’s sixth floor with funding from the state budget. The previously vacant floor will now house the university’s recently expanded fast-track baccalaureate nursing degree program in Arizona and will accelerate adding more healthcare workers into our community.
• And as announced in August, Barrow Neurological Institute is developing an innovative new 10,000-square-foot dry laboratory at Park Central that will further establish Phoenix as a destination center for medical discovery.
“We are very proud of the momentum we are seeing at Park Central as all of these different tenants and uses come to life,” said Sharon Harper, Chairman and CEO of Plaza Companies, the company spearheading the Park Central revitalization effort alongside Holualoa Companies. “Park Central is really fueling a resurgence in midtown Phoenix and we are pleased with the impact the property is having on the central city.”
Plaza Companies and Tucson’s Holualoa Companies have teamed up to redevelop Park Central into a vibrant destination, which once was the city’s first official large-scale shopping mall. The companies have transitioned the expansive space from a retail center to an almost 500,000-square-foot bustling community hub ideal for playing, working, congregating and celebrating the arts.
“Park Central is truly becoming an ideal location for living, working, playing, lodging and educating,” said Stan Shafer, Chief Operating Officer for Holualoa Companies. “All of these uses will feed into each other to make the experience at Park Central even better for residents, tenants, students and visitors. This is exactly the kind of growth and evolution we envisioned when the revitalization efforts began just six years ago.”
Park Central includes 500,000 square feet of Class A creative office and retail space available for lease with the ability to accommodate tenants ranging from 3,500 square feet to more than 100,000 square feet in size. It features exclusive tenant patios, on-site restaurants and amenities, a stunning mid-century modern design, 15- to 25-foot ceilings, convenient bike path and light rail access and ample parking. For more information on the project, visit www.parkcentralphoenix.com.
