April 24, 2019 Comments Off on Parallel Capital Finalizes $25M AZ Center Renovation, Preps for Hotel Views: 456 Arizona, National News, Southwest

Parallel Capital Finalizes $25M AZ Center Renovation, Preps for Hotel

San Diego-based Parallel Capital Partners, Inc. finalized more than $25 million in renovations to Phoenix’s iconic Arizona Center, completing new creative office space, outdoor work stations, shopping, entertainment and casual dining facilities. Downtown Phoenix’s original entertainment destination, the newly-rehabbed mixed-use development spans one million square feet, across 16-acres at the intersection of 3rd Street and Van Buren.

Parallel Capital Partners’ Matt Root says, “The extensive upgrades to the center bring a whole new vibe to the heart of downtown Phoenix. As we add tenants, Arizona Center will continue to become an even bigger hub for meeting up with friends and family, entertainment, shopping and so much more.”

Also planned is the AC Hotel by Marriott, which will be the first upscale select-service boutique hotel in downtown Phoenix near the convention center. The 13-story, 199-room project is set to break ground next month, and is scheduled to deliver in Q3 2020.

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