"This property is contiguous to what will be Banner Medical'sflagship hospital for the entire East Valley," explains BrentMoser, executive vice president of Phoenix-based Grubb & EllisBRE/Commercial LLC. He says T. Wall Properties put a bid on theland at US Hwy. 60 and Greenfield Road after a previous offer fellout of escrow for the seller, Robert Christ II and Paul Skogebo ofMesa.

Moser tells GlobeSt.com that the acquisition will close in lateJuly, but T. Wall Properties already has plans to sell about 10 to15 acres to medical office developers and some additional land tohotel developers. He says the buyer will keep back about 40 acresto build class A and back-office space.

"The intention is to break ground either in December or January,finish the entire site with infrastructure, then sell off themedical office portion," Moser says. He is teaming with Grubb &Ellis/BRE senior associate Michael Sutton to sell the land.