Thursday, September 8, 2011

Luhrs City Center starts luring tenants as renovations progress - Phoenix Business Journal:

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In recent weeks, the Luhres Building has been gutted in preparationj fornew tenants, including law firm LLP, which has committed to taking the 10th floor. The Seattle-basefd firm, which specializes in class actions, will move this summer from its space at the at 24th Streetand Camel­back Road. “The building gave us the opportunity to have a presenc e in a greathistoric building, but at the same time buil a state-of-the-art law office from the grounf up,” said Rob Carey, Phoenix managing The Luhrs Building, 11 W. Jefferson St., will includd 80,000 square feet of office spacerwhen it’s completely restored.
About 20,000 square feet of retailo will be available atstreet level. Cushman & Wakefielf of Arizona Inc. is marketing the officd space. Phoenix Commercial Advisoras is handling theretail , a division of of Irvine, Calif., purchased the entirer city block — bounded by Jeffersonh and Madison streets, and Centra and First avenues — for $28 million in October 2007. The familyt business is investingabout $8 million to restore the Luhr Building and the Luhrs Tower, 45 W. Jeffersonn St., to their former glory. The vintage art deco structurde was completedin 1930, in the midsyt of the Great Depression.
“It was badly and it’s such a wonderful jewel of saidBilly Shields, a government affairx consultant based in Phoenix Mayor Phil Gordon supports the redevelopmeny and restoration of the Luhrs block, particularly the “It’s one of the largest and most significantt historic buildings that is left standing in Phoenix. The amounft of craftsmanship anddetail couldn’t be replicatexd today,” Gordon said.
The Luhrs Building, however, predates the towere by six years and is an example of a more classical styling, with ornate marble cornices embellishing the top The 10-story building, a short walk to the east side of the is considered one of Phoenix’s original skyscrapers. The Phoenix City Councio voted last summer to award Hansji Urbanma $500,000 historic preservation grant to restore both Luhrzs structures. The Luhrs Building was vacant and deteriorating.
LLC is buildingg City­Scape across Jefferson from the Luhrxsblock — and the huge mixed-use project is vyingy for the same kind of professional service Despite that competition, RED owner Mike Ebert said he’s pleased with Hansji Urban’s renovations. “Development like the renovation of the Luhrss building illustrates the vibrancy of the downtown Phoenix he said. “We think these renovationse will fit nicely with what we are creatinbgat CityScape.” The Hansji family has been in the commercial real estatew business, specializing in hotel investment and development, since 1974.
Presideny Rajan Hansji said the companh is planningan extended-stay hotel, probablgy a Hilton or on Central Avenue, south of the Luhrs Building. “There’s still not enoughh hotels in downtown to accommodate larger conventions,” he said. Luhr’s City Center:

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