PHOENIX-A former printing company plant on a two-acre CBD tract is under review for conversion and redevelopment into a mixed-use project. The local owner is planning to create 500,000 sf of office, retail and residential space.

The tract at Jackson and Madison streets was the former headquarters for Imperial Lithographics, owned by the Wisotsky family, which subsequently leased the Downtown buildings to Cenveo Inc., another commercial graphics company. Cenveo vacated the site in early 2006 as part of a consolidation move.

"Some of the buildings there go back to the early 20th century. We're still trying to figure out the best thing to do with them. DFD CornoyerHedrick is working on three different designs," says Peter Barbey, vice president of Colliers International's Phoenix office, who is working as a consultant for the Wisotsky Family to determine the best way to develop the land. "Right now there's no groundbreaking date because the Wisotskys are still in discussions with various partners and are entertaining taking on new ones," he adds.

Barbey says the final design for Imperial Plaza should be ready by fall. He predicts some buildings could end up refurbished, rather than demolished, based on the needs and desire of future tenants.

"We're showing the property itself to restaurants, office tenants and retail office," Barbey tells GlobeSt.com, adding a tenant could be in place within three years. Lease rates, though, are still being firmed up.

Although Imperial Plaza's look and costs are still up in the air, Barbey says potential tenants are intrigued by the location. The site is one block from the government district and at the western edge of what will be the Jackson Entertainment District. Barbey says Imperial Plaza would provide dining and shopping to state and federal employees who have few, if any, options right now. "There's a growing demand for amenities in that area," he points out. "This will be a terrific, terrific location for that."