Highly anticipated mixed-use project Includes multifamily, retail and office space
Phoenix, June 11, 2019 – Colliers International has been selected by RED Development to exclusively handle the office leasing for its eagerly anticipated Block 23 at CityScape project in downtown Phoenix. The true mixed-use development will include 332 apartments, downtown Phoenix’s first full-service grocery store and 230,000 square feet of Class A office space, as well as additional restaurants and retail shops.
Situated at First and Washington streets in downtown Phoenix, Block 23 at CityScape is the area’s first major mixed-use project developed in years. Slated for completion later this year, the property includes a 13-floor apartment tower developed by StreetLights Residential that includes 332 units. The project also includes 230,000 square feet of Class A office space, which has already attracted WeWork and Ernst and Young as its first tenants.
Retail components of the development feature a 67,000-square-foot Fry’s Food Store and 50,000 square feet of additional retail space for shop and restaurant use, or which 12,000 square feet have already been leased to Blanco Tacos & Tequila, a Fox Restaurant concept.
Block 23 at CityScape includes an on-site parking structure, with three levels of below-grade parking for residents and four above-grade levels of parking for office tenants and visitors.
“We are thrilled to be part of this dynamic landmark project,” says Ryan Timpani, executive vice president at Colliers International. “Downtown Phoenix has become a 24/7 destination for corporate office users and residents alike, and this unique live-work-play development brings a sophisticated and modern environment to our evolving city. Anchored by the first true grocery offering downtown Phoenix has ever seen, Block 23 at CityScape has been enthusiastically anticipated by the market. We look forward to welcoming additional office tenants that will benefit from the extensive on-site amenities.”
Timpani and Todd Noel, senior executive vice president, of Colliers International will serve as exclusive leasing agents for the commercial office space at Block 23 at CityScape.
About RED Development
"A wholly integrated commercial real estate company, RED Development is a mixed-use developer that maximizes asset value and performance for its mixed-use portfolio and high-quality retail properties that total 35 properties with over 19 million square feet in 11 states. Most notably, RED is the developer behind CityScape, the first vertically integrated mixed-use project in downtown Phoenix, AZ, and most recently, The Union Dallas in Uptown Dallas, TX, which brought the first urban grocery store to Dallas and won D CEO's 2019 award for Best Mixed-Use Project. For more than 20 years, RED has been a preferred partner for class AA office tenants, 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. RED is a privately held company headquartered at CityScape and with a corporate office in Overland Park, KS. RED builds on its development capabilities as an active acquirer of existing properties. For more information, visit REDDevelopment.com."
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.
Colliers International in Arizona has served clients locally and globally for more than 35 years.