Illinois Developer Plans $45-Mil Office Project Near Airport

PHOENIX- In its first project in Arizona, an Illinois developer plans to build a 228,000-sf office project near Phoenix's airport.

By D.J. Burrough | Updated on February 27, 2001

PHOENIX-An Illinois developer has purchased a parcel near Phoenix’s airport and has started construction on an 114,00-sf Class A office building.

The McShane Companies, a Rosemont, Ill.-based development firm, purchased for $6.7 million at 10.5-acre parcel at 315 N. 44th St. in Phoenix. The parcel is in the Phoenix Gateway Office Park, which is at the corner of 44th and Van Buren streets. The area is just north of Sky Harbor International Airport.

McShane is partnering with Scottsdale-based Globe Corp. to build two four-story Class A office buildings on the site, which represents McShane’s first development in Arizona. The two building will total 228,808-sf. The total development cost is expected to be more than $45 million, based on industry estimates.

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