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SCOTTSDALE, AZ-In a move that will help accommodate its aggressive growth, William Lyon Homes Inc. of Newport Beach, CA, is shifting its Chaparral Business Center office to triple its size. The group will move from Chaparral Business Center II to Chaparral Business Center IV.

“They need to expand and didn’t have enough space in their current building,” says Kevin Calihan, a senior associate with CB Richard Ellis Inc. He tells GlobeSt.com that William Lyon’s existing lease for 8,000 sf at 8800 E. Chaparral Rd., did not expire until the end of 2005, but the building owner ripped up the pact for a new one that triples the office space to 24,273 sf in Chaparral Business Center IV, a two-story, 77,000-sf, class A building at 8840 E. Chaparral Rd. The five-year agreement has a total value of $2.8 million. The building, which delivered this year, will be half filled when the homebuilder completes its February move.

Calihan teamed with CBRE’s Tom Adelson to negotiate the direct lease. The park is owned by Salt River Devco of Scottsdale and Lincoln Property Co. of Dallas.

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