News Ticker

Major Redevelopment Planned for Oracle Plaza

Credit: Real Estate Daily News

By Karen Schutte for Real Estate Daily News

Word is getting out about the plans for the former Platinum Fitness location at 7315 N. Oracle Road, near the NWC of Ina and Oracle Roads in Oro Valley. Platinum Fitness closed in April 2019 and investors led by Larsen Baker and Volk Company teamed up to purchase the 53KSF property for an adaptive re-use development, as Oracle Ina Investors, LLC and SRP Two, LLC.

Previews of the rendering show a dramatic re-imagining of the multi-story project. The garden level, consisting of 17KSF faces Tohono Chul Park to the west, and mountains to the north, it will feature new windows, façade and entries, taking advantage of the views and the grade level parking.  A lease is being finalized for 10KSF. The second floor, almost fully leased with two spaces remaining, will remain offices.

Patios will be added to the main floor facing Oracle Road, and discussions are underway with restaurants, fitness and lifestyle uses, ranging in size from 2KSF to 10KSF, that will take advantage of the visibility, location and parking field.

The redevelopment project will be in the range of several million dollars when completed.

Seaver/Franks Architects Inc are preparing plans for submittal to the Town of Oro Valley, with the hope of having construction underway later this year.

Read more at Real Estate Daily News.

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