By Ron Davis | Phoenix Business Journal
CaliberCos Inc. sees a big opportunity with a nearly vacant office campus.
The Scottsdale-based wealth management and real estate investment firm has acquired the more than 300,000-square-foot, two-building Canyon Corporate Center from ViaWest Group which includes two parking garages.
Caliber plans to renovate the buildings and develop a minimum of 400 apartment units with the possibility of going up to 700 units as there is also a vacant site within the parcel for possible future development.
Canyon Corporate Center, currently being referred to as Canyon, is at 2510 W. Dunlap Ave and to the east of Interstate 17. It is also also minutes away from the redevelopment of the Metrocenter shopping mall.
Chris Loeffler, CEO of Caliber, said his firm has been working on the acquisition for over a year.
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