Anthem Land Rush Sparks Office Condo Project

Doug Dragoo of Paragon Properties Ltd. and Tom Kimsey of Voit Development Co., teaming as Anthem Offices LLC, have just paid a little more than $1.4 million or $6.63 per sf for five acres. Ground breaks in seven months on a 48,000-sf project, mapped out for 35 office condos. Delivery is set for early 2003. The Poliquin Kellogg Design Group of Woodland Hills, CA is the architect. Valley Commercial Contractors holds the building contract.

Office condo product is becoming increasingly popular in Arizona. Dragoo has the same product in Tempe, Carefree and soon Scottsdale. It's a good venue, Dragoo tells GlobeSt.com, because it's "for sale" or rent, depending on the occupant's desire. It's like buying a townhouse, replete with a property owners' association.

Don Brigham of Coldwell Banker Commercial Metro negotiated on behalf of Dragoo and Kimsey while Tom Adelson and Jim Fijan, both of CB Richard Ellis in Phoenix, represented Anthem Arizona LLC, better known as Del Webb and now owned by Pulte.

Meanwhile, Voit Development Co. is coming out of the ground with a 50,000-sf, multi-use project on 4 1/2 acres in the 104-acre Anthem Commerce Park. Half of Voit's project is spoken for in signed and pending leases. Already signed are Farmer's Insurance, pediatric medical office, mattress store, 2,500-sf pizzeria, karate studio and flooring company. Pending leases will bring a dance studio and security company, each lining up 3,000 sf, interior design studio, dentist and orthodontist, according to Kimsey.

"The tremendous influx of commercial interest reinforces the vision of Anthem as more than just rooftops," says Jim Tomlin, Anthem Arizona's director of commercial projects. The two-year-old community, now up to 3,000 homes and 8,000 residents, seemingly is bucking the trend regionally across the board in product type. The 2001 openings brought a 7,315-sf Wells Fargo bank, the first in the community, 15,251-sf Osco Drug store and 76-room Comfort Suites. All are supported by the 128,000-sf Anthem Marketplace, Anthem Prime Outlet Mall, 18-hole Greg Nash-designed championship golf course and community center with water park and gymnasium.