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PHOENIX-Hines will build a 300,000-sf, 11-story building in the Camelback Corridor, teaming with a US pension fund represented by Morgan Stanley Real Estate. Ground will break in spring 2007, with delivery planned for late spring 2008.

“The Camelback corridor is a premier office location in Phoenix. We expect this venture with Hines will be an excellent investment for our client,” Dave Hardman, managing director and head of US Real Estate Investing for the New York City-based Morgan Stanley, says in a press release. The project is Hines’ second in six years in the 24th at Camelback, a mixed-use development at 24th Street and Camelback Road in the Biltmore area.

“We think that this building will be a terrific addition to Phoenix as well as the Biltmore community, Hines’ senior vice president Clayton Elliott adds in the press release. Neither Hines nor Morgan Stanley could be reached by deadline.

Jon Pickard Architects in New Haven, CT, designed Hines’ first office building in the development and is crafting the second for a 10-acre tract. Hines’ vice president William Olson and assistant project manager John Orsak will oversee development and leasing. Hines will be the property manager. The general contractor and third-party leasing team have yet to be picked.

Six years ago, Hines developed an eight-story, 300,000-sf office building with ground-floor retail and a 1,175-space parking garage. Earlier this year, Chicago-based Optima opened the Optima Biltmore Towers, a 15-story project with 208 condos.

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