PHOENIX, AZ – May 23, 2024 – Vero A2R, the office investment platform at Vero Capital (“Vero”), in connection with Stream Realty Partners (“Stream”), a national commercial real estate firm offering an integrated platform of services, announce the groundbreaking of a $29 million renovation project at INISIO at Kierland, a premier two-building office campus located in the prestigious Kierland area.
“We are on a mission to redefine the office experience, transforming it into a hub of inspiration and connection,” said Andy Stone, Managing Partner at Vero. “The modern office is more than just a workspace; it’s a dynamic environment where collaboration thrives and relationships flourish. Stream has been a great partner in this transformative endeavor to redefine the workplace experience and deliver unparalleled value to tenants.”
INISIO at Kierland I and II, located at 16430 N. Scottsdale Road and 16260 N. 71st Street, is set to undergo a comprehensive renovation inspired by Vero’s vision to amenitize both buildings and create a unified campus atmosphere, guided by Stream’s expertise. The renovation, scheduled for completion in the fourth quarter of 2024, will introduce a host of innovative amenities and design elements to enhance tenant satisfaction, foster collaboration, and promote well-being.
Key features of the renovation include façade revitalization and a cutting-edge fitness center spanning more than 5,000 square feet with features such as thermal saunas, cold plunge, free weights, machines, and on-demand equipment. Other tenant amenities include hospitality-inspired lobbies and common areas, a training center, huddle rooms, library, billiards area, focus booths designed to inspire creativity, and 5,000 square feet of dynamic outdoor space and pickleball courts. Additionally, Infuse Hospitality was recently selected to run a new restaurant concept on the premises, which will offer a blend of indoor and outdoor seating and space for food trucks.
The renovation features the development of five high-quality spec suites, ranging from 3,900 square feet to 7,700 square feet, tailored to meet the evolving needs of tenants. Scheduled for delivery in the fall of 2024, these suites will offer flexibility and customization options to accommodate a wide range of preferences. The campus has the ability to accommodate up to 90,000 square feet.
This project is being overseen, managed, and leased by Stream Vice President of Construction and Development Services David Kollar, Vice President Stirling Pascal, Managing Director Brett Abramson, and Vice President Chris Beall. The project’s architectural scope was awarded to Zebra Projects in collaboration with Good City Studio, and construction was awarded to Willmeng Construction.
“INISIO sets itself apart with a vibrant community atmosphere and a wealth of amenities, from the expansive fitness center to inviting communal spaces,” said Pascal. “Designed to be inclusive and inspirational, the name itself, derived from the Latin word for ‘inspire,’ reflects our commitment to creating a transformative environment.”
Kollar added, “At INISIO, we’re building more than just an office; we’re creating a space that prioritizes the tenant and employee experience. From the outset, our focus has been on designing a contemporary environment that fosters productivity. INISIO also boasts a strong sustainability program with over 4,400 solar panels; we’re proud to generate a large percentage of the power needs onsite.”
In addition to the renovation, Stream has recently signed leases with Liberty Mutual, Healthcare Realty, and Prudential, adding to the prestigious list of tenants at INISIO. With INISIO’s Kierland I now fully leased, the property continues to attract top-tier organizations seeking best-in-class workplace solutions.
For more information, please contact Stream Phoenix at 602.855.0055.
About Vero Capital
Vero Capital, originally founded as Admiral Capital Group in 2008 by David Robinson and Dan Bassichis, is a real estate and private equity firm. Since the firm’s inception, Vero and Admiral have deployed more than $700 million of capital in transactions valued at more than $3 billion by taking a nimble approach to rapidly evolving markets and investing in areas where the firm has deep expertise and has developed a competitive advantage. The real estate platform’s highly specialized teams seek to drive value by owning and operating assets in top job growth markets with the ability to generate incremental value through the integration of emerging trends in experiential workspace, technology, and hospitality. The real estate credit team aims to deliver value by investing in subordinate debt and preferred equity in segments of the market that are less liquid and offer higher yields. Vero’s private equity platform harnesses the firm’s corporate, sports and entertainment network to source opportunities to invest in and add value to operating companies, often alongside top-tier private equity firms. In partnership with David Robinson, Admiral will continue to focus on social impact and mentoring professional athletes on investing and philanthropy. Visit our website verocapital.com for more information.
About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,400 professionals and now completes annual transactions valued at more than $8.8 billion in office, industrial, retail, healthcare, land, and data center properties. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook.
