acquired Scottsdale Pavilions

De Rito Partners president Chuck Carlise tells GlobeSt.com that the man-made lakes looked pretty, but their purpose wasn't quite so lovely. Because the project at 9175 E. Indian Bend had been built 20 years ago on Salt River Pima-Maricopa Indian land, original developer Vestar had to create a way to deal with the wastewater.

"The water, once treated, was stored in the lovely lakes up front," Carlise explains. "Once we told everyone that the lake water was actually sewage water, they were happy with the concept of us removing the lakes." The water has been drained, used for irrigation and "of course, that's a tremendous upside for us because now we can develop on those areas," Carlise comments.

He estimates that all three parcels – the two that once held lakes and one that is near the freeway – could hold about 150,000 square feet. Some of that space will be allocated to a hotel and restaurants.