Former Valley East Plaza shopping center in Fiesta District to become brand new office space
By: Randy Policar
08/4/14 4:09 PM
Phoenix Rising Investments, LLC has acquired the Valley East Plaza Shopping Center, located at Longmore and Southern in District 3, the City of Mesa announced today. The remodeled complex will be known as Centrica, and is expected to be completed by early 2015. The shopping center formerly housed Bed, Bath and Beyond, Petco and Circuit City.
“This is wonderful news for the Fiesta District, District 3 and the City of Mesa,” District 3 Councilmember Dennis Kavanaugh said. “This is another giant step forward in the City’s continued revitalization efforts of the area and we are looking forward to working with the developer to make Centrica a wonderful addition to our community.”
Centrica will feature more than 110,000 square feet of single story contiguous Class A Office space, more than 700 parking spots and fiber optic backbone connectivity. The location, in the heart of the Fiesta District, is prime real estate thanks to the proximity to both the U.S. 60 and Loop 101 freeways, easy access to public transit and the amenities surrounding the area.
“Phoenix Rising Investments, LLC looks forward to its continuing work with the City of Mesa on the adaptive reuse of this property into Centrica, a first class office building,” Michael Hsiung, Principal of Phoenix Rising Investments, LLC said. “We are excited to be located in Mesa’s Fiesta District, the center of the Southeast Valley. Centrica will be within walking distance to an abundance of restaurants, retail, and educational facilities - and just
a twenty minute commute for over one million well-educated people.”
“We are pleased to have a quality developer such as Phoenix Rising Investments, LLC bringing more than 100,000 square feet of Class A office space to the Fiesta District,” remarked Bill Jabjiniak, City of Mesa Economic Development Director. “This is a significant addition to the more than $50 million of public and private investments made in the district over the last several years.”
Architectural design for Centrica will be handled by Nelsen Partners, an award winning designer whose projects include the Kierland Commons and the Scottsdale Quarter. For more information on the project, visit http://www.ProjectCentrica.com.
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