Phoenix Metrocenter Mall Revamp Causing Ripple Effect
Retail and office complexes near the soon-to-be redeveloped Metrocenter Mall are being forced to keep up. Nearby Lake Biltmore Corporate Center is undergoing a multimillion renovation to redesign the common areas, conference rooms, corridors, lobbies, staircases and to make improvements to the building’s infrastructure. The office buildings are located just to the north of the site of the Metrocenter redevelopment near Peoria Avenue and Interstate 17. The general contractor on the project is Stevens-Leinweber Construction.
The renovations of the 100,000 square foot development will take on a nautical theme inspired by water, sand and sky. Title companies, real estate brokerages, law firms and accounting agencies, make up the tenant mix at the office buildings. WJM Enterprises LLC, an entity connected to HCD Consulting, acquired the office buildings February 2022 for $11.5 million.
Houston-based Hines is heading up the $1 billion Metrocenter redevelopment. At full build-out, it will comprise 5 million square feet of space, 3,191 multifamily units, 100,000 square feet of retail, two hotels, a public plaza and park and 6,300 parking spaces.