JF McKinney & Associates of Phoenix and Lane Industries Inc. of Chicago secured construction financing through the Tustin, CA-based Fremont Investment & Loan. David Sotolov in Fremont's Phoenix office arranged the financing for the project, which will rise at the freeway's intersection with Ray Road.
Jack Chapman, vice president with JF McKinney, tells GlobeSt.com that the first space to come out of the ground will be a five-story, 216,000-sf office building, similar to McKinney's San Tan Corporate Center, which is located just across the street. "San Tan Corporate Center is fully leased out," he says, "so we decided to develop the Park at San Tan as a continuation of the success we found on the corporate center." The remainder of the project will include 27,000 sf of office condominium space and a retail component, the Village at San Tan, which will have 20,000 sf of shop space and three pad sites on 3.4 acres that could support another 15,000 sf of retail.
James Watkins and Mike McQuaid with Phoenix-based Lee & Associates Arizona will lease the office component. DeRito Partners, also from Phoenix, won the retail assignment. Scottsdale-based Shea Commercial LLC is the office condo overseer. The Park at San Tan was designed by DFD Cornoyer Hedrick of Phoenix. The Weitz Cos. Inc., another Phoenix firm, is the general contractor.
McKinney and Lane have partnered before although this is their first project in the Greater Phoenix metro. In 2000, they developed the 250,000-sf Northbrook Corporate Center near Chicago.
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