Lauth Property Pushing $550M Pipeline for '08

The 2008 projects will include office and industrial parks, mixed-use developments and a medical office complex, with more of the same planned for the following year. "We have a sophisticated underwriting process and believe that each of the sites we selected contains a number of competitive merits allowing us to compete well in the area," Austin Lehr, Lauth's western regional partner, tells GlobeSt.com. He adds that none of the projects scheduled for construction will cannibalize or compete with the other.

Furthermore all the developments will carry LEED certification. Lehr explains that Lauth has been moving in the green direction for awhile. "We also believe this issue is becoming more important to our customers," he adds.

Lehr says the projects will be built in phases and market-driven. While all projects will be speculative, he says build-to-suits aren't out of the question. "What we'd like to see is a mix of both national and local tenants who are conducting long-term sustainable businesses, and are interested in using their landlord as a partner for success in their business," he adds.

Riverview Point, situated on 32 acres at Bass Pro Drive and North Alma School Road in Mesa, is already under construction. The 443,000-sf mixed-use development consists of six structures, including a 48,000-sf medical office building. Brad Anderson and Luke Walker with CB Richard Ellis' Phoenix team are leasing the development.

In 2008, Lauth will start work on the following projects:

• Washington Point: a 696,960-sf, master-planned class A office park on 16 acres at State Highway 143 and Washington Street in Phoenix. The developers are seeking a LEED Silver certification for the three-building project. Jim Fijan, Jerry Roberts and Tom Adelson with CB Richard Ellis in Phoenix have the leasing assignment.
• Goodyear Point: a 352,000-sf industrial business park on 152 acres at Litchfield and Lower Buckeye roads in Goodyear. Bo Mills and Mark Detmer with Cushman & Wakefield of Arizona Inc. are preleasing the six-building park.
• Parcland Crossing: a 17-acre project at Loop 202 and Alma School Road in Chandler. The project will have two class A office buildings totaling 170,000 sf and 12,800 sf of retail shops.

In 2009, Lauth plans to start construction on the 50,000-sf Lake Pleasant Medical Pavilion at the intersection of Lake Pleasant and Pinnacle Peak roads in Peoria. The five-acre project will be built in one phase.