16th Street Adaptive Reuse, aka Playton Plaza, is a 20,648 square feet, one and two-story, mid-century modern office building complex located in midtown Phoenix. Built in 1963 and 1973, 16th Street has a flat roof and block construction.
16th Street is located in Midtown Phoenix, just minutes from the “Golden Corner” of 24th Street & Camelback, Camelback Corridor, Downtown Phoenix, Sky Harbor International Airport and numerous Valley hotspots, including: Postino WineCafe, Oregano’s, St. Francis, Windsor, Little Cleo’s at The Yard, Culinary Dropout at The Yard, Taco Guild and Starbucks at Old School 07. The property is located in Midtown Phoenix 1.3 miles south of Camelback Road along 16th Street allowing easy access to Biltmore Fashion Park, the Camelback Corridor, the valley freeway system and numerous employers.
The construction plan includes a full remodel of the existing office buildings into twenty-three apartment homes and adding modern residential amenities, while keeping the spirit of the original midcentury architecture. The adaptive reuse project will have a heavy focus on activating the street by utilizing welcoming entries that open to 16th Street and creating private patios and outdoor shaded areas.
VESTIS GROUP | PHOENIX ARIZONA COMMERCIAL REAL ESTATE INVESTMENTS
Vestis Group | Vestis Capital LLC is a real estate firm focused on Multi Family Residential Investment. We invest our clients’ capital together with our own to take advantage of opportunities with attractive risk-return attributes and an expectation of above-market returns. These goals are achieved through stringent underwriting practices and proactive property and asset management.
Through our extensive knowledge of the Phoenix multi-family residential real estate market, we can identify early trends, which provide insight into our pursuit of investment opportunities. Vestis Group’s principals have a thorough knowledge of the housing industry.
We have developed, built, rehabilitated, constructed, improved, managed and sold thousands of apartments, condos, homes, and home sites. Vestis Group principals and affiliates also have extensive experience constructing, improving, renovating, owning and operating residential and commercial properties. Our expertise in management, finance and construction is the backbone supporting every investment opportunity we identify.
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