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Trends:

RENOVATIONS

© Copyright 2017 by MP Media, LLC

Biltmore Commerce Center

Located on the northeast corner of Camelback Road and 32nd Street, in the heart of the Camelback Corridor, 
Biltmore Commerce Center is best known for its copper metallic exterior and highly visible, street-facing water 
feature. The project totals three stories and 260,000 SF, 
with above- and below-ground parking, and an 11,000-SF, 
remodeled three-story atrium running through the interior 
first floor. Since purchasing the property with Oaktree Capital 
Management, LPC has continued to improve the building – 
the latest of these being a new outside gathering space. Their 
efforts have helped to maintain a 90-plus percent occupancy 
with an established group of tenants including United Way, 
Phoenix Children’s Hospital and Lee & Associates. 

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 “Biltmore 

Commerce Center set the bar for shared, collaborative spaces,” 
says Krumwiede. “It was built more than 30 years ago, but 
with renovations, the lobby alone offers modern seating areas, 
a café, docking stations and a major water feature that rival 
new product. It is welcoming and polished – a commanding 
asset with a location that can’t be beat.”

Gainey Center

“Gainey Center was a great reminder that, as useful as 
renovations are for incorporating sleek, modern upgrades, 
they are equally important for bringing traditional-style 
executive offices up to modern times,” says Krumwiede. 

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This was the case at Gainey Center, a richly appointed and 
sophisticated environment for tenants such as J.P. Morgan, 
Apriva and Pfizer who are serving the area’s high net-worth 
demographic. With this audience in mind, LPC and Goldman 
Sachs purchased Gainey Center in March 2016 and have 
recently completed an executive-style lobby renovation that 
blends first-class finishes with elements that brighten and 
modernize the space, such as new light fixtures, brushed 
stainless accents and floor-to-ceiling tenant entries.

Promenade Corporate Center

The 260,000-SF Promenade Corporate Center consists  
of two, four-story office buildings in the North 

 

Scottsdale/Kierland submarket – at the center of the 
Scottsdale Promenade mixed-use retail development. 
LPC and Goldman Sachs purchased the buildings 
approximately 18 months ago and quickly launched 
an improvement plan that includes lobby renovations, 
modernized landscaping, tenant gathering areas, and 
common corridor improvements. Since that time, 
LPC has signed nearly 42,000 SF of new leases and 
renewals, stabilizing the building with a strong tenant 
mix anchored by FITCH, Healthcare Trust of America 
and Buchalter Nemer. 

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“Modern companies love North 

Scottsdale for its almost immediate freeway access and 
walkable mixed-use environments,” says Krumwiede. 
“Promenade Corporate Center provides all of these just 
outside of its lobby doors. The buildings were built more 
than a decade ago, but the location is timeless. As is 
the case with each of our renovations, our job was to 
modernize and present those strengths to the market.”

Luhrs City Center

Built between 1924 and 1929, Luhrs City 
Center is a National Historic Landmark. It 
encompasses approximately 160,000 SF of 
fully renovated office and retail space featuring 
red brick interiors and exposed beams. LPC is 
nearing completion now on an additional, multi-
million-dollar renovation that further upgrades 
the project’s lobby, common areas, garage and 
streetscapes. 

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 “We’re bringing a piece of the 

past into the present – instilling new style while 
protecting a level of historic character and 
integrity that you simply can’t build into new 
construction,” says Krumwiede. 

Promenade Interior