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SAN DIEGO—Phoenix has been an under-the-radar city that is rapidly on the rise and offers compelling opportunities for both commercial and homeowner investment, Parallel Capital Partners' CEO Matt Root tells GlobeSt.com. The San Diego-based, private, fully integrated real estate investment and operating company, which is focused on acquiring value-added and core-plus opportunities for its own account in primary and secondary markets west of the Mississippi, including Hawaii, recently signed four new leases at One North Central—a 20-story, class-A office tower in Downtown Phoenix.
One of the leases signed is for nearly 150,000 square feet that will house the Arizona offices of Quicken Loans. The Detroit- based lending giant will occupy six floors at One North Central and embark on a major renovation of the space.
According to Root, with these latest transactions, One North Central is now more than 93% leased. Joining Quicken in the building will be Live Nation, the Beverly Hills-based events and entertainment company, and Coleman & Finch, a new gastropub concept on the corner of Washington and 1st St. Additionally, Urban Eye Care has leased 1,528 square feet for 121 months to introduce Downtown Phoenix's first full-service optical center.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
