Phoenix Rising Investments, LLC has begun redevelopment on Centrica, an up to 140,000-square-foot, Class A office building at 1550 W. Southern Ave.
The adaptive re-use project located near the US 60/Loop 101 interchange in the Southeast Valley will turn three former big-box retail stores into an ideal location for companies seeking modern office space that offers abundant parking (7:1000) and a direct fiber optic backbone connection.
“We are excited to break ground on Centrica,” said Mike Hsiung, Managing Member of Phoenix Rising Investments. “Centrica is one of the few office properties in all of Metro Phoenix with the ability to offer more than 100,000 square feet of contiguous space.
“With nearly 110,000 students within 10 minutes of Centrica and more than 3 million square feet of restaurant and retail amenities within walking distance, we believe Centrica is the ideal property for any company,” Hsiung said.
Handling the leasing assignment is the Cushman & Wakefield of Arizona team of Director Matt Coxhead and Associate Director Ryan Bartos. Willmeng Construction is the general contractor and Nelsen Partners is the architect.
With demolition already underway, Centrica’s redevelopment includes the retail pads formerly occupied by Bed, Bad & Beyond; Toys ‘R Us; and Circuit City.
“This is such a unique project for the market,” Bartos said. “Twenty-three-foot-high exposed ceilings, wide open floor plate, and access to an outstanding talent base make Centrica a highly desirable location for users.”
Mesa officials said they have been hoping to revitalize the Fiesta District, and Centrica is one of a few catalyst projects that would create additional momentum for attracting high-tech companies to that part of the city. Already in place is an infrastructure that features high-speed fiber optics.
>> Employers within close proximity such as Esurance, Boeing, Banner Health and SRP;
>> Mesa Community College, one of the nation’s largest community colleges with an enrollment exceeding
25,000 students, sits directly across Southern Avenue from Centrica;
>> More than 3 million square feet of restaurant and retail amenities within walking distance to Centrica;
>> Less than half a mile from the Loop 101 corridor, US 60 and Metro Phoenix;
>> Two bus stops within 50 feet of Centrica that serve seven bus lines and a new Metro light rail station currently under construction within one mile of Centrica.
“Mike and his team are great to work with,” Coxhead said. “They have a unique sense of design and are extremely creative. We are excited for the project to get started.”