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PHOENIX-Chicago-based Thomas J. Klutznick Co., developer of the 144-acre, five-million-sf CityNorth, has snagged its first anchor tenant. Nordstrom Inc.’s takedown of 144,000 sf will kick off the project’s $1.2-billion, 2.5-million-sf first phase.

John Klutznick, vice president with Klutznick Co. and partner in the development, will only say that the specialty retailer’s commitment is long term. The mixed-use CityNorth’s first phase, which will face High Street, will break ground in the fall and deliver in fall 2007. Nordstrom’s scheduled to open in fall 2009.

Klutznick tells GlobeSt.com that it will take eight years to build out the land, which is situated between Tatum Boulevard and 56th Street along Loop 101. He says he’s talking to other anchors, but isn’t holding any more signed deals as yet. The quoted rates aren’t available.

“This first phase will be a true mixed-use project, with retail, restaurants, office above retail and residential above retail,” Klutznick says. “There will also be apartment product and condo product.” The remaining phases, which Klutznick indicates will break ground as the market dictates, will include more of the same as well as public plaza areas and pedestrian walkways.

The Related Cos. of New York City is handling the preleasing campaign on the national retail front while Southwest Retail Group Inc. of Scottsdale, AZ is steering local retail and restaurant dealmaking. A CB Richard Ellis team in Phoenix is preleasing the office space; Signature Properties of Phoenix has the residential component. CityNorth was designed by Nelson Architects’ Phoenix team and Elkus Manfredi Architects Ltd. of Boston. Hensel-Phelps Construction Co., headquartered in Greeley, CO, is the general contractor.

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