Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SCOTTSDALE, AZ-Although Meritage Homes Corp.’s new space in the Pinnacle at Perimeter won’t be ready for another eight months, the homebuilder has expanded its prelease from 42,612 sf to about 70,000 sf. The class A headquarters lease is valued at more than $16 million.

With the signing, Meritage Homes is the lead tenant for the under-construction, three-story office building at 17851 N. 85th St., which started out as an 85,000-sf project and has been hiked to 100,000 sf, says Austin Furst, owner of locally based Furst Properties LLC, which is developing the Pinnacle at Perimeter. As reported in November 2004 by GlobeSt.com, Meritage Homes committed to an eight-year deal at Pinnacle at Perimeter. The expanded pact delivers enough space to add two subsidiaries, Monterey Homes and Hancock Communities. More than 300 people will office in the headquarters space.

Meritage Homes currently occupies about 3,000 sf at 8501 E. Princess Dr., where Hancock Communities also leases 17,000 sf. Monterey Homes occupies 10,000 sf at 6613 N. Scottsdale Rd.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.