CHANDLER, AZ-The Rockefeller Group Development Corp. has gained control of 76 acres for its first project in the region. The New York City-based powerhouse is mapping out 860,000 sf of storefront industrial and back-office space on its $21.5-million land buy.
Rockefeller's development site, bought from Pylman Farms, is located at the intersection of Gilbert and Queen Creek roads. The plan is to break ground in third quarter 2007 on the Rockefeller Group Commerce Center.
Paul A. Sieczkowski, senior vice president of Colliers International Inc. in Phoenix, tells GlobeSt.com that construction costs will range from $50 per sf to $70 per sf. The site plan has been submitted to the City of Chandler for approval.
"They'll start out with a first phase of several buildings ranging from 15,000 sf to 75,000 sf, then will hold a phase two for a build-to-suit candidate to come in," says Sieczkowski, who represented Rockefeller Group. He adds that the first phase will come out as spec. It is to be ready to occupy in first quarter 2008.Colliers will market the development. Sieczkowski says a couple potential build-to-suit projects are being courted, but nothing is yet set in stone.
Local architect Wes Balmer designed Rockefeller Group Commerce Center. The general contractor's award has yet to be made.
Sieczkowski says the 76-acre development is Rockefeller's first in the area, but it's definitely not its last. "They're hungry to do more development out here," he says, "and we have more offers pending on land."
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