MESA, AZ-A Madison, WI-based developer is preparing to pay north of $20 million for 60 acres in anticipation of future demand for medical office and traditional office space. T. Wall Properties’ tentative plan calls for roughly 200,000 sf of medical office space, a couple limited-service hotels and an undetermined amount of back-office and class A office buildings.

“This property is contiguous to what will be Banner Medical’s flagship hospital for the entire East Valley,” explains Brent Moser, executive vice president of Phoenix-based Grubb & Ellis BRE/Commercial LLC. He says T. Wall Properties put a bid on the land at US Hwy. 60 and Greenfield Road after a previous offer fell out of escrow for the seller, Robert Christ II and Paul Skogebo of Mesa.

Moser tells GlobeSt.com that the acquisition will close in late July, but T. Wall Properties already has plans to sell about 10 to 15 acres to medical office developers and some additional land to hotel developers. He says the buyer will keep back about 40 acres to build class A and back-office space.

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