The new owner of office buildings in north Phoenix is banking on the redevelopment of the Metrocenter Mall.
Lake Biltmore Corporate Center is undergoing a multimillion renovation to redesign the common areas, conference rooms, corridors, lobbies, staircases and make improvements to the building's infrastructure and a renovated employee break area.
The office complex totals, which was constructed in 1984, 102,000 square feet in two glass-clad, two-story buildings at 11022 and 11024 N. 28th Drive in Phoenix on 6.86 acres. Title companies, real estate brokerages, law firms and accounting agencies, make up the tenant mix at the office buildings.
The renovations will lean into a nautical theme inspired by water, sand and sky, mixing quartz, tile and natural wood materials, according to a news release. The exact cost of the renovations was not disclosed.
WJM Enterprises LLC, an entity connected to HCD Consulting, acquired the office buildings February 2022 for $11.5 million from Gammaville LLC, according to an affidavit of property value recorded in Maricopa County.
'Providing lifestyle and workplace amenities'
“The transformation of Metrocenter Mall has become a powerful economic driver for this trade area, creating an exciting ripple effect for projects situated all around the mall property,” said Harold Dorenbecher, president of HCD Consulting, in a statement. “The reimagined Lake Biltmore Corporate Center will bring this asset up to modern specifications, making it one of the nicest office buildings in the area, with a focus on providing the lifestyle and workplace amenities that today’s employees and employers are prioritizing.”
Phoenix-based Stevens-Leinweber Construction is the project’s general contractor. Scottsdale-based iDESIGNS is the architect. Colliers International's Philip Wurth is the leasing broker for both office buildings. Wurth is marketing about 35,000 square feet of available space to lease. Stevens-Leinweber is building about 25,000 square feet of move-in-ready spec suites with completion expected by the second quarter of 2023.
“We are thrilled to be working with a group that is so committed to elevating Phoenix’s commercial real estate inventory,” said Stevens-Leinweber Construction president and CEO Jamie Godwin in a statement. “We have a long history with this ownership team and appreciate the opportunity to execute their vision for this high-caliber asset. The result will bring contemporary, experience-driven office space to a submarket going through a tremendous transition.”