RED Completes Phase One of Block 23, Signs Three New Leases at CityScape Phoenix

Highly Anticipated Openings on the Horizon in Downtown Phoenix


PHOENIX (Oct. 21, 2019) – RED has completed phase one of construction at Block 23 in Downtown Phoenix as the mixed-use destination prepares to open additional phases over the coming weeks and recently signed three new leases at neighboring CityScape Phoenix.

Within the initial phase of Block 23 is the area’s first long-awaited grocery store by Fry’s Food Store that is scheduled to open to the public on Wednesday, October 23. The new store will unveil an innovative urban design and debut new technology. Customers can expect a unique shopping experience encompassing all the amenities of a typical Fry’s, including online ordering and pick-up, made-to-order sushi, convenient deli and bakery selections, a pharmacy that will provide a full range of healthcare services, and extraordinary customer service. Fry’s customers will receive parking validation for up to two hours when parking in the parking garage.

The second phase is The Ryan, a 330-residence apartment community by StreetLights Residential, that will begin pre-leasing in November with the first move-ins expected in February 2020. The Ryan will offer studio, one- and two-bedroom residences ranging in size from 576 to 1,649 square feet. The community will boast an array of amenities including a luxurious fifth level pool deck with lounge seating, grilling stations, firepits with panoramic views; a catering kitchen for entertaining with a private dining area; a fitness center with a Flex Fitness Room featuring a WellBeats system with Peloton Spin Bikes and yoga mats; a co-working area; a resident lounge with a fireplace and lounge space; an expansive activity and yoga lawn; a dog run and pet spa; EV charging stations and cold storage and private garages with select residences.

The final phase of Block 23 is the nine-story office tower with ground-floor retail and restaurant space that will begin to open later this year and has signed leases from WeWork, Ernst & Young U.S. LLP (EY) and Blanco Tacos & Tequila.

“With the first phase of construction completed, we’re honored to further our commitment to Downtown Phoenix by bringing the first full-service grocery store to the area that is the most innovative grocery concept in the state,” said Mike Ebert, managing partner at RED. “As each phase opens at Block 23, we look forward to seeing the impact this destination will have on the community as we continue to attract the best local, regional and national tenants to improve the daily lives of those who live, work and play within this vibrant city.”

Block 23 continues RED’s commitment to the urban core of Phoenix and marks CityScape Phoenix’s expansion to 2nd Street. At CityScape, RED recently signed three new leases along Washington Street and Central Avenue, across from Urban Outfitters, including Dog Haus Biergarten, a 2,363 square-foot restaurant; Pigtails Cocktail Bar, a 1,294 square-foot bar and Nekter Juice Bar, a 1,350 square-foot location. Opening dates will be announced by the end of the year.

For more information, visit RedDevelopment.com.

About RED Development
A wholly integrated commercial real estate company, RED Development maximizes asset value and performance for its high-quality retail and mixed-use portfolio that comprises 35 properties totaling 19 million square feet in 11 states. For more than 20 years, RED has been a preferred partner for national retailers and investors. The company also works with third-party property owners seeking RED’s expertise in remerchandising and repositioning properties to improve profitability and appeal. A privately held company headquartered in Phoenix, AZ with corporate offices in Dallas and Overland Park, KS, RED builds on its development capabilities as an active acquirer of existing properties. For more information, visit REDDevelopment.com.

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