GILBERT, AZ-Birtcher Development & Investment Co. and Lunsford Group have joined forces to develop the 600-acre Morrison Ranch Business Park. The mixed-use project, which is anticipated for a summer 2008 groundbreaking, will consist of 8.2 million sf of office, industrial and hospitality product at an all-in cost of $2 billion.

The development will be along Power Road between Elliot and Warner roads, with 400 acres in Gilbert and 200 acres in neighboring Mesa. The first phase will likely involve an industrial spec, though plans for the initial phase are still pending.

Also involved in the business park development is the local Morrison Family, which is developing the overall 2,000-acre master-plan Morrison Ranch. According to Brandon Birtcher, president and CEO of Birtcher Development & Investments in Irvine, CA, the Morrison Family's contribution to the partnership is land for the business park.

Birtcher says the park will be a mix of speculative developments and build-to-suit buildings, corporate campuses and a hotel or two, all anticipated to generate 24,000 jobs for the area. He says that he and Allan Lunsford, president of the Newport Beach, CA-based Lunsford Group should have more specific plans for the site within the next 120 days.

Birtcher tells GlobeSt.com that market demand dictated the mix for this particular development. "The East Valley is exploding with new homes at all price points and beautiful master-planned residential communities," he says. Additionally, the opening of Loop 202, the San Tan Freeway, a year ago also opened the area for business parks, retail centers and hospitality developments. "This will be the first business park product to support Morris Ranch and the surrounding area," Birtcher adds.

Though Morrison Ranch Business Park is the first project for the partners, Birtcher says his relationship with Allan Lunsford goes about 20 years. Meanwhile, Lunsford and the Morrison Family also had a longstanding relationship, which was how the deal was developed. "This took about two years to get there," he acknowledges. "This went through design and economic models, negotiation of the joint venture agreement and getting it executed. But we all share the same vision for this property."