Free Office's build-to-suit will be situated at Elliot Road andInterstate 10, the latest in a two-month run that yielded roughly$30 million of other projects. The executive search firm's officebuilding will deliver in early 2009.

|

The 2008 development docket also includes a $14.2 million,66,011-sf office/warehouse at 92nd Street and Bahia Drive inScottsdale for American Audio Visual and $8.1-million, 42,307-sfHigley Village, a retail project at Higley and Baseline roads inGilbert. Also in the pipeline is a $3.3-million, 31,000-sf officebuilding at Miller and McDonald roads in Scottsdale; $2.6-million,16,225-sf office project at Price and Frye roads in Chandler forAble Technologies; and the 9,357-sf Mesa Family Medical Center, a$1.3-million project for land at the corner of Stapley andMcKellips.

|

David E. Sellers, LGE's president, tells GlobeSt.com thatbuild-to-suits in general are doing well despite gloom-and-doomforecasts about the Phoenix economy. "Everyone thinks the economyis in a drought, but there are companies out there that need toexpand and that aren't tied to homebuilders or mortgage companies,"he says. "The companies we're working with are manufacturing,distribution and high-technology companies."

|

Sellers says LGE's staff pushes the fact it is a turnkey shop:permitting, architecture, engineering and general contracting. Whenthe work's done, the finished product is sold to end users orleased. Sellers says the company's system means that it does welleven in slower times. "We really go crazy when the economy isbooming," he adds.

|

Last year, LGE delivered 3.3 million sf, representing $327.2million and most of it as spec, according to Sellers. "This year,I'm focused on some spec, but mainly we're working with build tosuit," he explains. "We'll have around $200 million for 2008 and wealready have a great start on that."

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.