$550,000 Facelift Eyed for Vintage Strip Mall
Author: Beverly Ford
CHANDLER, AZ-A vintage 1960s strip mall, one of the oldest in this Phoenix suburb, will get a $500,000 facelift in the summer in one of the first major redevelopment projects undertaken in the city of Chandler.
" It's less than desirable aesthetically speaking. It's truly an eyesore," said Michael A. Pollack, whose firm, Michael A. Pollack Real Estate Investments will begin renovations on the NorthPark Plaza in June. "It's just begging to be redeveloped and we're willing to take on that challenge."
The investment firm purchased the 61,000-sf strip mall at 1004 N. Arizona Ave. for $3.6 million from Orsett Southwest. Pollack Investments and Orsett Southwest, both based in Mesa, were self-represented in the transaction.
The renovation plans call for an architectural makeover of the building's dated facade as well as new landscaping and signs, upgraded outdoor lighting and a resurfaced and repainted parking lot. Pollack said he expects the current tenants CarQuest auto parts store, Pizza Hut and Fashion Mart, will remain at the retail center following the renovation.
Plans for the redevelopment began even before the building was out of escrow when architect Dwayne Griffin, with Randall Ewers & Associates of Phoenix, began working on drawings to revamp the façade. "Our goal when we're finished to have something the local neighborhood, the city and we will be proud of," Pollack said.
The firm has already won praise for its renovation work in Glendale, Mesa, Tucson and Phoenix. The Chandler project will be one of its biggest rehabilitation efforts in an infill location, Pollack noted. The company and its affiliates own and operate more than 75 commercial and industrial properties in Arizona, California and Nevada totaling more than four million sf with an aggregate value in excess of $250 million.