Caliber’s Joint Venture Development, PURE Pickleball & Padel, Announces Agreement with Wolfgang Puck Catering
Caliber (NASDAQ: CWD), a real estate investor, developer and manager, today announced that its joint venture development, PURE Pickleball & Padel™ (“PURE”), has signed a 10-year exclusive agreement with Wolfgang Puck Catering, a premium catering, corporate dining and hospitality company. Wolfgang Puck Catering will serve as the exclusive food and beverage services provider for PURE’s first-floor restaurant and bar, grab-and-go marketplace, pro arena concessions, second-floor special events space, teaching kitchen, VIP lounge, and rooftop patio and bar. Unique to this project, PURE and Wolfgang Puck Catering will co-market corporate and social events that blend sports and entertainment, world-class pickleball and padel events as well as exhibitions featuring culinary activities that inspire creativity and collaboration including hands-on cooking, custom menus and educational interaction with world-class chefs.
PURE Pickleball & Padel™ is developing an 11+ acre site in the Riverwalk Development Project located in the Talking Stick Entertainment District, a 100-acre site adjacent to Scottsdale. PURE will be a world-class pickleball and padel facility and pro arena and seeks to claim the title of the largest indoor pickleball and padel facility in the world. The 196,726-square-foot state-of-the-art facility will boast a 1,200-seat pro arena, 40 indoor pickleball courts, eight indoor padel courts, sports performance and recovery fitness center by HonorHealth™, restaurant and bar by Wolfgang Puck Catering, pro shop, locker rooms and spa, special event spaces, rooftop patio and bar, meeting spaces, childcare and other amenities.
Pamela Brunson, President of Wolfgang Puck Catering, said, “Racquet sports have long been popular, but it’s been
exciting to see the rise of pickleball and padel and the positive impact they’re having both in the U.S. and around the world. This new partnership brings the best of two leading brands together and will deliver a world-class experience to guests.”
Chris Loeffler, CEO of Caliber, said, “We are excited to partner with Wolfgang Puck Catering, a renowned brand in the food service industry that fits our vision for PURE Pickleball & Padel™ as a premier destination for the sport’s enthusiasts and first-class social and culinary experiences.”
Kevin J. Berk, Co-Founder & CEO of PURE, said, “PURE engaged Wolfgang Puck Catering in a strategic opportunity to develop a show-site for culinary excellence at what will be the most iconic pickleball and padel facility in the world.”
For developing PURE, Caliber created the Pickleball at Riverwalk Fund, a single asset offering designed to invest in real estate, land sublease and business operations. This offering is active and allows for direct investment from accredited investors as well as qualified opportunity zone funds (QOFs) seeking to allocate capital to a potentially attractive qualified opportunity zone business (QOZB). Caliber has designed the offering for broad participation, seeking Pickleball & Padel enthusiasts who are looking for exposure to the two fastest-growing sports in the United States and the world.
For more information on the project, visit Caliber’s website