Developer Samuelson-McKone acquired the 5.5-acre site in early2006 from Dover Associates LLC. Red Mountain Business Center willconsist of the multi-tenant 27,437-sf Building One at 4310 E.McDowell Rd. and the 30,039-sf-sf Building Two, which is around thecorner at 2845 N. Omaha St. Samuelson-McKone principal Danny McKonesays Building Two is geared toward one large single-tenant user, orat the most, two users.


He says that while some time was spent working through thecity's permitting process, there was never any doubt that themarket was ready for the product. "Red Mountain will be in analready stabilized business park that's almost completely builtout, and it's across the street from Falcon Field, where Boeingis," he says. "The industrial market is currently off thecharts."


McKone tells that, given the interest in RedMountain Business Center, the larger building will likely be leasedup by delivery, with the smaller building having attracted two orthree tenants. "We've had three different groups looking at thelarger building, and interest has grown now that we're movingconstruction on the smaller one," he adds. Kris Martin and MarcTuite of Grubb & Ellis/BRE Commercial LLC will handle leasingfor Red Mountain Business Center. The quoted lease rate is $.90 to$1.15 per sf, triple net.


Dickinson Architects Inc. of Phoenix is the project designer,while PFG Construction Inc., another local firm, is the generalcontractor. MidFirst Bank's Phoenix office is handling constructionfinancing.

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