Project Future: Reimagining the Office
4 design, architect teams to build out technology, office space at revamped Renaissance Square
By Mike Sunnucks of Phoenix Business Journal, June 2017
Can you see you or your company in downtown Phoenix offices? Mark Jacobs wants to make that easier to envision and even move into.
Jacobs is managing director of Oaktree Capital Management LP. Oaktree and Cypress Office Properties own Renaissance Square — two office towers in downtown Phoenix. They are in the midst of a $50 million modernization of the 28- and 26-story office towers.
Part of that effort is to show prospective tenants visions of new and revamped offices at the downtown Phoenix development at Washington Street and First Avenue.
Jacobs is bringing in four architecture and design firms to build out four different speculative suites showing tech companies, law firms, financial firms and nonprofits what their space might look like.
Tenants even have the chance to look and even move into the speculative suites.
“Markets with similar trends to Phoenix, such as Houston and Los Angeles, have successfully experimented with this concept. Renaissance Square and the teams involved created the perfect project scenario to bring collaboration like this to Phoenix,” said Jacobs, who came up with the idea for the downtown towers. “We’re not just changing the outdated image of Renaissance Square – we’re showing the community and tenants that existing spaces can offer ‘blank canvas’ opportunities to create new and trend setting environments for today’s workplace, and we’re also allowing leading, local architects free reign to show us what future office interactivity and functionality will be in the next five to 10 years.”
The four designs include:
- McCarthy Nordburg designing financial space
- RSP Architects designing nonprofit offices
- SmithGroupHR putting its designs on law firm space
- Evolution Design building out some technology offices.
“All teams are designing spaces that will allow flexibility so that any future tenant in any industry can easily operate,” said Alissa Franconi, senior associate at RSP Architects Ltd. “Each space incorporates features that have never been seen before, not just from a design stand point, but in how they function as the workplace evolves.”
The four speculative suites will be on the fourth floor at Renaissance One at the downtown development. They will be unveiled in October.
Cypress and Oaktree are already renovating lobby and common areas at Renaissance and have plans to turn the office complexes tennis courts into conference and amenity areas for tenants.
Cypress and Oaktree bought Renaissance Square from Hines Interests last year for $152 million.
Downtown Phoenix Journal, July 2017