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Downtown Phoenix Site Trades for Record $14M

Phoenix-based Glasir Capital Partners acquired 1.83 acres at 601 N. Central Ave. in downtown Phoenix for $14 million. Honeylou Reznik sold the property that had been under the Reznik family control for nearly 50 years. The deal ranks among the highest price land sale in Phoenix history.

The site at Pierce Street, Fillmore Street, Central Avenue and First Street formerly housed the Reznik family’s Jewel Box jewelry store and pawn shop, as well as an underground bowling alley. In recent times, the site has been used as a parking lot.

Dean Corley, who has handled land deals for the family, told the Phoenix Business Journal the property most likely will be developed as a mixed-use multifamily project.

Phoenix Community and Economic Development’s Christine Mackay said the Reznik family land sale is a sign the resurgence of downtown Phoenix continues, even during the COVID-19 pandemic.

* Photo credit: Bob Pool /

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.