Parkway Fountains, a four-story Camelback Corridor office building is getting a $600,000 renovation and being reintroduced to the market.
New owner and operator Griffin Partners of Houston, TX is making a foray into the Metro Phoenix office market. The company is starting with Parkway Fountains, located at 1702 E. Highland Ave. The 80,315-square-foot property was built in 1986. This will be the first renovation work since it opened. Plans call for completion of renovations in February.
- Fountain removal in building lobby;
- New travertine marble tile in building lobby;
- Antiquated brass fixtures and surfaces replaced or re-finished;
- New modern stainless steel and glass guardrails;
- New fresh, light overall paint throughout all common areas;
- Impactful accent paints;
- Warm wood elevator cab walls;
- Stainless steel elevator rails;
- Warm, contemporary main lobby carpet, with coordinating corridor carpet;
- New energy efficient light fixtures throughout remodel;
- New modern ceiling tiles throughout corridors;
- Modern interactive directory;
- New fire alarm system.
“Griffin is excited to reintroduce Parkway Fountains to the Phoenix office market,” said Lee Moreland, Griffin Executive Vice President. “It’s an entirely new product and we are pleased to offer our current and future clients a more efficient, modern and stylish office experience. Parkway Fountains is the first of several planned value-add acquisitions in the Valley, and we look forward to expanding our local footprint.”
“The new common area corridors and fountain-less lobby are refreshing and breathe new life into the project,” said Chris Nord of Cushman & Wakefield of Arizona. “With the building upgrades, immediate freeway access and rich amenity base, we’re excited to reintroduce Parkway Fountains to the market.”
Griffin Partners worked with architect Tricia Johannes and Cushman & Wakefield’s leasing team to renovate the property it purchased in June. Stevens Leinweber Construction has been selected as general contractor for the project.
Parkway Fountains is located in the bustling Camelback Corridor with immediate access to SR 51. It is also within walking distance to numerous retail amenities including restaurants, shopping, banks and health clubs located at the Camelback Colonnade and Town & Country Shopping Center.
Tenants include First Investors Corporation, DAUM Commercial and Environ International Corporation.
Nord and Michael White of Cushman & Wakefield serve as exclusive leasing agents for Parkway Fountains.