The new owners of two adjacent north Scottsdale office buildings want to reimagine the assets as one "experiential office campus."
With that in mind, Dallas-based Vero 2AR plans to pump $29 million into Kierland One and Kierland Two for hospitality-driven amenities shared between the two buildings that total 410,000 square feet. Those renovations will include reimagined lobbies and common areas, speculative suites, an upgraded fitness facility with locker rooms, an on-site coworking operator, a coffee shop, flexible meeting rooms and outdoor collaboration spaces.
Vero 2AR is the office investment platform of New York-based Vero Capital. The group, under its previous name Admiral Capital Group, acquired Kierland One in October 2021for $58 million. In November 2022, as it rebranded, Vero acquired the 240,000-square-foot Kierland Two office building at 16260 N. 71st St. — for $47 million.
The Kierland office campus will be managed and marketed for lease by Stream Realty Partners. The Dallas real estate firm opened a Phoenix office in September 2021.
