ORO VALLEY, AZ-The future of Innovation Park, a 565-acremaster-planned development situated at the base of the SantaCatalina Mountains, is in the hands of Grubb & Ellis Co.’sTucson, AZ office. The project’s owner, Venture West, has selectedthe firm to market sites for sale within the park.

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The Grubb & Ellis team handling the project includes: BobDavis and Bill DiVito, senior vice presidents; Howard Kong, vicepresident; and Hadley Kirkland, associate;

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“Davis, DiVito and the remaining members of the team were thelogical choice to market the site on our behalf,” says Neil Simon,principal of Venture West. “Their long standing track recordin Tucson including the sale of the two-million square footUniversity of Arizona Technology Park, coupled with theirexperience with technology companies, was very much in line withour vision for Innovation Park.”

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Located at the northwest corner of Oracle and Tangerine Roads,Innovation Park consists of 372 acres of land zoned for developmentand 193 acres of natural open space, linear parks and trails thatprovide scenic background views.

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Innovation Park is adjacent to Oro Valley Hospital, a 144-bedmedical facility, and across the street from the 5,500-acreCatalina State Park and the Oro Valley Marketplace, a1-million-square-foot retail center. The property also isclose to upscale housing communities and schools, as well as worldclass resorts and spas including the Ritz Carlton, Dove Mountainand Miraval Arizona Resort & Spa.

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Currently, the project includes a 350,000-square foot R&Dbuilding in which Ventana Medical Systems Inc., a member of theRoche Group, houses 1,200 employees, along with a110,000-square-foot R&D building, which Sanofi-Aventis U.S.owns and occupies.

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The remaining developable acreage – about 200 acres – includingoffice, light industrial, hotel and retail sites. However, theGrubb & Ellis team is focusing its efforts on the office andlight industrial sites, according to Davis.

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“Although the park has corporate and medical offices, as well asa retail component, there will be a major push to attract researchand development and high tech manufacturing companies in biotech,photonics and other technology-based industries,” Davis says. “Wealready have a critical mass with Roche and Sanofi-Aventis.”

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Davis tells GlobeSt. the office and light industrial sites inInnovation Park range in size, with the maximum size of 35 acres.The project is priced on a per square foot basis ranging from $6.50to $15.

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Davis estimates that Innovation Park will be built out withinfive years.

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