Elmalon Partners Plans $19M Office Project

"We have a site plan approved that allows a mix of retail and banking at the corner with office condos surrounding it," says Paul Anton, managing partner of Elmalon Partners in Scottsdale, AZ. He says the land at the intersection of 107th Avenue and McDowell Road offered the ideal site for an office condo development because it's visible from Interstate 10 and close to Banner Estrella Medical Campus at 9201 W. Thomas Rd.

Silk & Stewart Development Group sold the land to Elmalon days before Banner Health, headquartered in Phoenix, revealed plans for a new hospital near Interstate 10 and Verrado Way in Buckeye, less than five miles west of Avondale. Anton tells GlobeSt.com that the medical market is a prime target for Harbor Shores Executive Park. "Many doctors are attracted to office condos. They see it as a long-term investment so that was the thinking behind this development," Anton adds.

Phoenix-based architect Davis, formerly DFDCornoyerHedrick, designed Harbor Shores Executive Park. Eric Butler and Bret Isbell with Logan Commercial in Scottsdale are handling marketing and sales. According to Logan's website, units will range from 1,200 sf to 11,000 sf, with an ask of $225 per sf to $250 per sf.

As Elmalon begins plans for its Harbor Shores Executive Park, work is finishing up on its 37-acre, mixed-use West 101 Commerce Center, which is about a mile to the east. The last building is an 85,000-sf class A office building that's to be finished in early 2008.

Anthon says Elmalon will be looking for more land in 2008. "We want something that presents itself with good immediate development opportunities," he says.