Parallel Capital Partners Inks Lease Deal With Global Architectural Firm At Arizona Center
SmithGroup Signs an 11-year Lease at Phoenix Mixed Use Complex
By: Parallel Capital Partners, Inc.
Expanding Arizona's Center's growing mix of retail options are a new 1,276-square-
"We are thrilled to have SmithGroup – a global leader in integrated design – continue its operations here at Arizona Center," said Matt Root, managing partner for Parallel Capital Partners, which owns and manages the center. "These latest transactions are a testament to the optimal location and amenities of this downtown centerpiece. As we continue to add retail and commercial tenants, Arizona Center will become an even bigger hub for business, entertainment, shopping and so much more."
Brett Abramson of JLL represented Parallel Capital Partners and Andrew Cheney of Lee & Associates represented SmithGroup. Brent Mallonee of Cushman & Wakefield represented Parallel on the retail leases.
Downtown Phoenix's original entertainment destination, the newly rehabbed Arizona Center spans one million square feet, occupying 16-acres at the intersection of 3rd Street and Van Buren. Parallel Capital Partners acquired the property in 2015 and immediately embarked on a $25 million makeover.
According to Root, more recent upgrades to the multi-use center include the installation of state-of-the-