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.
In late 2020, Taiwan Semiconductor Manufacturing Co. signed a 46,735-square-foot office lease at the property but isn’t occupying the space, Loeffler said. He added that Caliber is reaching out to TSMC about possibly having some of its expanding workforce live at the new-look campus, which is roughly 15 miles from its north Phoenix campus.
Source: https://www.bizjournals.com/phoenix/news/2024/09/17/caliber-cos-viawest-group-value-add.html
