10-19-2013 05:08 PM

DPC Development preps Phoenix complex for big renovations


A sketch of the proposed lobby renovations at the Biltmore Commerce Center.




Roughly two months acquiring a quarter-million-square-foot Phoenix office complex for $42.77 million, Greenwood Village-based DPC Development Co. is gearing up for a major face-lift of the Biltmore Commerce Center.
New landscaping and exterior lighting is already being installed to boost curb appeal, but DPC has not yet solidified a construction timeline or cost for the interior renovations, according to Cushman & Wakefield of Arizona Inc. That company handled leasing for the building.
DPC, and its venture partner Bridge Investment Group of Salt Lake City, acquired the Biltmore Commerce Center in August from the Muller Co. The office building is currently 70 percent occupied by such tenants as De Rito Partners Inc., Lee & Associates, HDR Engineering Inc. and North American Title.
> Click here for more from the Phoenix Business Journal.
Kristena Hansen covers residential and commercial real estate.


Continue Reading >>