Project Spotlight: Park Central

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During the 1950s, Ralph and AJ Burgbacher purchased a 46-acre property that would become the Park Central Mall. It quickly became the center of activity for its proximity to Phoenix’s best neighborhoods and easy access to Central Avenue, Thomas Road, and Indian School Road. Over the years the property transitioned from a retail-focused project to one that gears itself to office space, with some retail and restaurants included in the mix. 

Park Central has encountered different struggles over the years – losing major tenants, withstanding the Great Recession, and having insufficient capital to attract and retain tenants. But, with a partnership with Plaza Companies and Holualoa companies and the inclusion of its own Valley Metro light rail station, interest in the property is rejuvenated.

We Updated Its Design While Paying Homage to the Past

Park Central was once an economic hub in Central Phoenix for its shopping and dining. With its transition towards a more office-oriented facility, we took advantage of the property’s mid-century modern roots and design features to become a dynamic, mixed-use development. We were able to utilize features that attract today’s office users, including:

  • Large floor plates
  • High ceilings with a variety of exposed roof structures
  • Ground-level indoor/outdoor work experiences
  • Collaborative campus atmosphere
  • Abundant parking for employees and guests

The foundation was already there, it was our job to build upon its incredible development. 

Park Central is in the Driver’s Seat of Economic Activity in Central Phoenix

Since its partnership with Plaza Companies and Holualoa Companies, the mixed-use development has attracted a diverse range of tenants. Each with their own background in the healthcare, retail, restaurant, tech, and hospitality industries. This resurgence of incredible tenants is resulting in Park Central becoming an economic powerhouse for Central Phoenix.

In addition to these industries, Park Central will be home to Creighton University’s health sciences campus. With the shortage of healthcare providers in our country, this campus will provide much-needed support for our community and those who dream to help it. The state-of-the-art campus will accommodate nearly 900 medical students, including future physicians, nurses, occupational therapists, physical therapists, pharmacists, and physician assistants. The facility will feature cutting-edge technology, equipment, and spaces to enrich their student’s education. 

Park Central Is Meeting the Demand for Commercial Real Estate in Phoenix

Phoenix is attracting a wide range of industries for its strong job market and population growth. This is resulting in the huge interest of companies bringing their operations to the Valley. Park Central is a prominent mixed-use development for its central location and easy access to major highways, mass transit, and a growing workforce. As we continue to renovate and enrich the project, we anticipate even greater interest in the property.

Plaza Companies is Proud of Park Central’s Progress

By redeveloping Park Central Mall as a mixed-use commercial property, Central Phoenix will benefit from a new hub for economic development. Plaza Companies is proud of the work we’re doing with the commercial property and we look forward to watching it flourish.

Since 1982, Plaza Companies has enjoyed a reputation for providing excellent management and development services to owners and investors. We strive for excellence and take pride in the work we do for each of our clients. Contact us today to learn how we can help you with your property investment.

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