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PHOENIX-Dallas-based Lincoln Property Co.’s Phoenix team is coming out strong as it preps for a ground-breaking next week on a $35-million flagship project that will deliver 523,122 sf of industrial space in the Sky Harbor Airport submarket. The start will fall within two weeks of closing on a 33.3-acre hotspot that had four bidders vying for a farmer’s land.

Lincoln Commerce Park’s initial phase of 224,116 sf will come out of the ground as a four-building spec project amid talks with several interested parties for four build-to-suits on the 19-acre balance, David Krumwiede, Lincoln’s executive vice president and regional partner of the Southwest operations, tells GlobeSt.com. Lincoln presently is awaiting a sign-off on grading permits from the city for the 14-acre launch.

Lincoln, which opened its Phoenix office about six months ago, considers itself “lucky” to have gained control of acreage that was never before available. It’s a hotspot in a submarket where land is tight, vacancy is low and demand is plentiful, says Krumwiede. He isn’t saying how much Lincoln paid for the acreage at the intersection of Interstate 17 and 7th Avenue. But, he does say the land and developed buildings are carrying a bundled price tag of $35 million.

The acreage takes up the southwest corner of a full diamond interchange along the freeway. Interest is running so high that build-to-suit prospects surfaced before the land sale closed Friday, Krumwiede confides. Talks are so promising that he expects a taker will be under contract within months–a surefire cushion for any concern about developing in today’s economic climate.

Lincoln Commerce Park’s spec buildings will deliver more general industrial space to the airport market. It’s designed for flex, distribution, manufacturing or office-showroom users. Exteriors will feature recessed glass storefronts, metal entry canopies and multi-color concrete walls.

Butler Design Group is the architect and hardison/downey, the general contractor. The landscape architect is Laskin & Associates. All are Phoenix-based firms. Lee & Associates Arizona holds the leasing contract. The team consists of Bill Gosnell, president, Allen Lowe and Jeff Conrad. The team also closed the land sale, representing Lincoln and seller, the Hurley family.

Location, says Krumwiede, is everything and the infill site is north of the Rio Salado Restoration and three miles from the nation’s fourth busiest airport. The Sky Harbor Airport submarket is primed for development since there has been scant significant product brought to market due to the availability of quality land, according to Krumwiede. The first phase will deliver in July 2002.

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