What Phoenix Has to Offer This SD-Based Owner

Root: “Phoenix is a late-recovery market that exhibits compelling population and job growth and has one of the largest populations and economies in the Southwestern region.”

SAN DIEGO—Phoenix has been an under-the-radar city that is rapidly on the rise and offers compelling opportunities for both commercial and homeowner investment, Parallel Capital Partners’ CEO Matt Root tells GlobeSt.com. The San Diego-based, private, fully integrated real estate investment and operating company, which is focused on acquiring value-added and core-plus opportunities for its own account in primary and secondary markets west of the Mississippi, including Hawaii, recently signed four new leases at One North Central—a 20-story, class-A office tower in Downtown Phoenix.

One of the leases signed is for nearly 150,000 square feet that will house the Arizona offices of Quicken Loans. The Detroit- based lending giant will occupy six floors at One North Central and embark on a major renovation of the space.