RED Development, a commercial real estate company known for its high-performing mixed-use and retail portfolio, is adding Fender Musical Instruments Corp. (FMIC), the guitar manufacturer, to its tenant roster at PV, the redevelopment of the former Paradise Valley Mall, in a single-tenant office building set to open next year.
FMIC will break ground on the 80,000-square-foot, three-story building later this year, which will open to team members in fall 2025. The new building, designed by SmithGroup, will be a dynamic hub for collaboration and will boast an array of cutting-edge facilities, including a dedicated model shop for its guitar and amplifier designers, a state-of-the-art sound room, along with meeting rooms and flexible workspaces strategically designed to foster teamwork and innovation.
Fender was founded in Southern California and has established a worldwide influence extending from the studio to the stage and beyond. Everyone from beginners to the world’s most acclaimed artists have used FMIC instruments, amps and gear, making the company an industry leader.
“Fender’s decision to partner with RED Development reinforces our long-term commitment to Arizona and a local community we have called home since the early nineties. Our building will foster a dynamic environment that attracts top engineering, finance, IT, product development, sales, and supply chain talent. Most importantly, we believe that PV’s mixed-use offerings will enhance Fender’s culture of creativity and innovation and provide our team members with an exceptional workplace experience,” said FMIC CFO Matt Janopaul in a statement.
Spanning more than 100 acres and situated in the heart of one of the most prominent neighborhoods in Phoenix, PV is a mixed-use development. The master plan for the project features a plethora of dining, entertainment, retail, living and working experiences, which are linked to a more than three-acre, centrally located community open space with heavily landscaped multi-modal pathways.
“Welcoming an iconic brand such as Fender to PV is truly remarkable,” said Mike Ebert, managing partner at RED. “This partnership underscores the groundbreaking innovation coming to PV and the exciting developments that are shaping our community’s future.”
The first phase of the massive redevelopment will open later this year, including the 400-residence multi-family building, The Blake, by StreetLights Residential. Also opening in 2024 are Whole Foods Market, Blanco Cocina + Cantina, Flower Child, Trevor’s Liquor, Sephora, Aveda, Wren House Brewing Co. and Frost Gelato.
“The PV development is booming with innovation, showcasing the considerable impact of transforming the landscape of the former Paradise Valley Mall. Adding Fender to PV is just one of the many businesses that bolster the significant changes the development is making for the future of Phoenix,” said Phoenix Community and Economic Development Director Christine Mackay.
“I am excited that Fender, a global brand, chose Phoenix to relocate their corporate headquarters. This move signifies a confidence in Phoenix,” said Vice Mayor Debra Stark, who represents District 3, where Fender will be relocating. “The new high-paying jobs that will come with this move will be a welcome boost to the local economy.”
FMIC was represented by Cresa, a leading commercial real estate advisory firm. Cresa played a pivotal role in the site selection process by conducting a comprehensive search across the Phoenix metro area and will be overseeing the entire construction process. JLL, a global brokerage firm, represented RED.
