George Oliver Companies Buys Catalina Terraces for $16.49M

Phoenix-based George Oliver Companies – a co-developer of the record-breaking Quad redevelopment in Scottsdale, Arizona – has identified its next metro Phoenix transformation project, purchasing Catalina Terraces in Phoenix for $16.49 million.

According to George Oliver Companies Founder and Managing Partner Curt Kremer, the redevelopment will take approximately nine months and will transform the 1989-built Catalina Terraces office complex with a refreshed façade, which will incorporate the existing Spanish architectural elements, and extensive renovations to interior spaces and shared common areas.

“Similar to The Quad this transformation will unlock the hidden potential of a dated asset in a premier employment corridor, improving the building with a thoughtful renovation and a best-in-class amenity package that goes far above market norms,” said Kremer. “This will transform Catalina Terraces into a highly desirable, highly creative office community with the unmatched ability to attract and retain today’s modern workforce.”