By Corina Vanek | Arizona Republic
The owners of High Street in northeast Phoenix are eyeing expansion in an area north of Loop 101 near Desert Ridge Marketplace that continues to see major construction projects.
The owners of the mixed-use center, which includes restaurants, retail, apartments and office space, own five additional acres immediately west of the buildings and plan to build a 140-room hotel, an office building and parking garage on the site, near 56th Street and Loop 101.
They are ready to move forward on construction once companies start pre-leasing the space, Todd Gooding, principal and partner at ScanlanKemperBard, one of the owners of the center, said.
Demand will drive next phase
“We will apply for the (construction) permits within the next six months, but I don’t think we will pull the trigger until we have some leasing in place,” Gooding said.
Marriott would like to have a limited-service hotel on the site under one of their brands, which would complement the success of the J.W. Marriott Desert Ridge, Gooding said.
High Street already includes about 330,000 square feet of office space, and that space is nearly completely occupied, Gooding said. The additional building will be between 145,000 and 160,000 square feet.
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