RESTAURANT / RETAIL OPPORTUNITIES ONE OF PHOENIX S MOST ICONIC PROPERTIES IS ABOUT TO BE REBORN.

Transcription

1 RESTAURANT / RETAIL OPPORTUNITIES ONE OF PHOENIX S MOST ICONIC PROPERTIES IS ABOUT TO BE REBORN.

2 MIDTOWN SUBMARKET COLTER PARK 384 UNITS BUILT IN 1972 CAMBRIDGE COURT 286 UNITS BUILT IN 1970 PROPERTIES 147 UNITS BUILT IN 1959 MELROSE 184 UNITS BUILT IN 1979 THE CURVE AT MELROSE 204 UNITS CLARENDON PARK 138 UNITS BUILT IN 2002 FOREST PARK 308 UNITS BUILT IN 1976 THE PHOENIX! THE HAWTHORNE 182 UNITS BUILT IN 1996 ICON ON 120 UNITS BUILT IN 1974 ELEVATION ON 266 UNITS BUILT IN 2016 THE LEX ON 131 UNITS BUILT IN 2001 THE PAVILIONS ON 254 UNITS BUILT IN 2000 THE STATION ON 414 UNITS BUILT IN 1999 PARC MIDTOWN 306 UNITS BROADSTONE MIDTOWN 200 UNITS OMNINET WEST 286 UNITS DELIVERY N/A AVENUE! ROAD BROPHY COLLEGE PREPARATORY HIGH SCHOOL STEELE INDIAN SCHOOL PARK FELLOWSHIP TOWERS 180 UNITS BUILT IN 1973 ALTA 223 UNITS XAVIER COLLEGE PREPARATORY 7TH STREET MOZAIC AT STEELE PARK 399 UNITS BUILT IN 1999 ALTA 230 UNITS CITI ON 193 UNITS BUILT IN 2001 APEX OFF 7TH STREET 104 UNITS BUILT IN 1980 INDIAN SCHOOL ROAD COVE 270 UNITS BUILT IN 1980 THE HERITAGE 204 UNITS BUILT IN 1995 CORRIDOR

3 MIDTOWN FLATS 124 UNITS BUILT IN UNITS BUILT IN TH AVENUE!Ã BROADSTONE 192 UNITS DELIVERY N/A 333 EAST MULBERRY DRIVE 104 UNITS DELIVERY N/A OSBORN ROAD EL CORTEZ 156 UNITS BUILT IN 1985 PHOENIX COUNTRY CLUB PHOENIX COLLEGE BELCOURT 198 UNITS BUILT IN 1957 THOMAS ROAD CRESCENT MIDTOWN 335 UNITS CLUB UNITS BUILT IN 1949 ENCANTO 9-HOLE GOLF COURSE ALTA MIDTOWN 225 UNITS BUILT IN 2017! LIGHT RAIL Midtown Submarket Overview* HEARD MUSEUM 10,884,482 SF OF OFFICE INVENTORY MCDOWELL ROAD THE MUSE 367 UNITS BUILT IN 2017 PHOENIX ART MUSEUM! BROADSTONE ARTS DISTRICT 280 UNITS BUILT IN ,316 TOTAL POPULATION $62,675 AVERAGE HOUSEHOLD INCOME 3,732 TOTAL BUSINESSES 76,301 DAYTIME POPULATION 203 FOOD SERVICES & DRINKING PLACES 1.88% GROWTH RATE $238,106 MEDIAN HOME VALUE 19 ACCOMODATIONS Multi-Family Developments** DOWNTOWN PHOENIX BURTON BARR LIBRARY 8,911 UNITS EXISTING 1,018 UNITS UNDER CONSTRUCTION 1,167 UNITS PLANNED *OFFICE SUBMARKET BOUNDARIES USED FOR ALL DEMOGRAPHICS/UNIT TOTALS ** ONLY MULTI-FAMILY DEVELOPMENTS OVER 100 UNITS DISPLAYED WITHIN MIDTOWN SUBMARKET, BUT ALL PROJECTS (REGARDLESS THE UNIT SIZE) CONSIDERED IN DEVELOPMENT TOTALS DATA IS FROM SOURCES DEEMED RELIABLE BUT MAY BE SUBJECT TO ERRORS, OMISSIONS, OR MODIFICATIONS. THE INFORMATION HEREIN IS PROVIDED WITHOUT REPRESENTATION OF WARRANTY

4 MARQUEE RESTAURANT & RETAIL SUITES SPEC RESTAURANT SPACE PLAN; +/- 4,532 SF THE YARD G entry corner G south façade +/-8,500 SF AVENU E COMMUNITY SPACE +/- 40,000 SF SECOND FLOOR N. +/-30,000 SF TENANT PATIO 4 PLANTED LANDSCAPE AREA IVE COMMUNITY SPACE +/-15,000 SF INTERACTIVE WATER FEATURE 1 3 +/-25,000 SF FUTURE RETAIL RESTAURANT PATIO +/-35,000 SF TIERED SEATING +/- 1,618 SF COMMUNITY SPACE SHADE STRUCTURE, TYP. TENANT PATIO +/- 4,000 SF HUB 2 +/-16-18,000 SF FUTURE RETAIL REGIONAL HEADQUARTERS THE MARKET B east façade RETAIL RESTAURANT PATIO HIGH PERFORMANCE ROAD PAINT GRAPHICS

5 east façade EASTGFAÇADE Premier mixed-use development Central Ave. frontage available Flexible suite sizes from 1,200 SF - 35,000 SF Major renovations under way Join ±337,000 SF of integrated mixed-use Direct Light Rail access Ample surface and INDOOR/OUTDOOR BAR WITH GARAGE ABOVE LARGE BOOTH SEATING BAR HEIGHT TABLES SUPPORTED FROM WALL structure parking PRIVATE DINING WITH WINE DISPLAY Innovative design with flexible facade COMBINATION OF LARGE BOOTH SEATING AND FIREPITS GREENERY DIVIDER SHOW KITCHEN LIQUOR DISPLAY SURROUND ABOVE BAR

6 THE NEW PARK The new Park Central will combine its rich mid-century-modern history with a new focus on technology, innovation and design, including all the most sought-after features in today s office and retail market. Park Central s original design as an outdoor regional mall provides a unique opportunity to utilize features that are attractive to today s new economy Park Central has exceptional bones. Its mid-century-modern initial design thoughtfully incorporated a number of elements that make it an ideal target for revitalization. The new Park Central will return the existing buildings to their mid-century-modern roots while incorporating some exceptional new design features designed to make the project feel innovative, high-tech and creative. The 337,000 square feet to be revitalized is separated into several distinct districts, each with its own identity. The LINK: A prominent visual statement of Park Central s new identity, designed to strengthen the Park Central inviting presence and brand along Central Avenue with a pedestrian connection to Central Avenue with a prominent shade structure, to activate the space for a variety of uses. HUB GOLDWATER BUILDING The GOLDWATER BUILDING: As the locals know it, the former Goldwater s space a large, flexible office space with a strong visual presence. The PORCH: Exceptional spaces for food and drink to support tenants and the community at large. The HUB: An inventive creative space to support Phoenix s best and brightest entrepreneurs and workers. The LOFTS: Authentic work spaces that celebrate the history of the property while incorporating modern amenities. The YARD: Temperate outdoor space that creates new opportunities for work and play. The new Park Central is embracing its very successful base of existing restaurants and adding more to enhance its position as the beating heart of central Phoenix, with a vibrant mix of office and retail tenants, exceptional foot traffic, an affluent nearby population and an unmatched location in the heart of the central business district. It s the perfect spot for restaurant and retail tenants looking to attract customers morning, noon and night.

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8 LIGHT RAIL AVENUE LIGHT RAIL DEMOGRAPHICS 1 MILES 3 MILES 5 MILES Population 14, , ,876 Average Household Income $64,869 $54,530 $57,489 Total Households 7,871 67, ,390 CONTACTS BRENT MALLONEE Cushman & Wakefield brent.mallonee@cushwake.com MARGARET LLOYD Plaza Companies margaret.lloyd@theplazaco.com TRAFFIC COUNTS North of Thomas on Central Ave: 22,486 South of Thomas on Central Ave: 20,795 East of Central Ave on Thomas: 30,769 West of Central Ave on Thomas: 32,169 LIGHT RAIL STATS Light Rail (# of Boarding s and Departures in 2016) Osborn Rd/Central Ave Light Rail Station: 7,540 Thomas Rd/Central Ave Light Rail Station: 11,655