(Read more on the industrial market.)
GILBERT, AZ-Birtcher Development & Investment Co. andLunsford Group have joined forces to develop the 600-acre MorrisonRanch Business Park. The mixed-use project, which is anticipatedfor a summer 2008 groundbreaking, will consist of 8.2 million sf ofoffice, industrial and hospitality product at an all-in cost of $2billion.
The development will be along Power Road between Elliot andWarner roads, with 400 acres in Gilbert and 200 acres inneighboring Mesa. The first phase will likely involve an industrialspec, though plans for the initial phase are still pending.
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