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CHANDLER, AZ-Michael A. Pollack Real Estate Investments has purchased a 13-acre parcel on the northwest corner of Alma School and Pecos roads for $3 million, with plans to raise 85,000 sf of retail. The development’s direction could be swayed by which anchor eventually signs on the dotted line.

“My goal is to do a family entertainment-oriented complex, but that may change if we do a grocery deal,” Michael Pollack, president of Michael A. Pollack Real Estate Investments in Mesa, tells GlobeSt.com. He purchased the land from the Pylman family of Chandler. While several offers were made on the site over the course of a few months, the seller eventually chose Pollack for his track record with retail development in the Phoenix market.

On the drawing board is 85,000 sf of strip space and three pad sites. Pollack already has spoken with two banks interested in either a ground lease or build-to-suit. He expects first ground to break in nine months. “We’re talking to a couple of banks about the hard corner and we’re talking with couple of entertainment venue-type places as well as specialty grocers,” he adds.

Pollack has been busy with both ground-up and redevelopment in recent months. The 17-acre Pollack Business Park North is under construction at the corner of Arizona Avenue and Elliot Road in Chandler and he’s redeveloping the Marcos de Niza Plaza on the southwest corner of Guadalupe and Rural roads in Tempe.

Rick Robertson of Lee & Associates in Phoenix represented Pollack in the land acquisition. Martin Pylman of Chandler negotiated on behalf of his family.

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