JEMB Realty Corp., a New York City-based technology company, has received the approval from the city of Scottsdale to begin its $41-million renovation of the Scottsdale Galleria, a former mall at the southeast corner of Scottsdale and Camelback roads in Scottsdale. JEMB plans to turn the mall into an office and telecom center.
JEMB plans to begin its renovation with a new paint job for the long-empty building, transforming it from a pinkish hue to more of a rust color. The developer also plans to add Native American decorations to the exterior.
JEMB purchased the 600,000-sf former mall in July for $29 million and plans to convert the space into the Technology Center of Scottsdale, a mixed-use facility that will include 312,000 sf of office space, 164,700 sf of telecommunications and 130,000 sf of retail.
Completion of the conversion of the mall, at the southeast corner of Scottsdale and Camelback roads, is expected by year-end. JEMB wouldn't name any potential tenants, but said office and stores could be open by fall 2001.
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