TOLLESON, AZ-A seven-year-old developer from Redlands, CA has carved out a 9.6-acre inroad for $5.1 million. The development site, fronting Interstate 10 at the 91st Avenue junction, will put about 40,000 sf of retail and one, possibly two, hotels in the Southwest Valley.

Mark Development Inc./Ebenezzar Scrooge LP bought the land from RedPalMech & Associates LLC of Phoenix with a hotel developer in hand for 2.5 acres of the site, John Odegaard, vice president for NAI Capital in Newport Beach, CA, tells The broker says ground could break by year’s end on a 120-room, nationally flagged hotel and the retail component as well. He says the site is large enough to piecemeal sell another pad site for one more hotel.

Odegaard says the interest in the dirt is its direct access to the interstate, sitting at the gateway to the City of Tolleson. Odegaard and NAI Capital associate Doris Bolton and NAI Horizon senior vice president John Filli in Phoenix represented the buyer and will be marketing the site for build-to-suit retail.

Odegaard says it’s highly likely that the build-out will be a combo fueling station and convenience store or a restaurant. Michael Noonan with Russ Lyon Realty Co. of Phoenix represented the seller.

Odegaard says the developer’s inroad was purely a matter of location. The acreage is south of Loop 101 and the Arizona Cardinals stadium in Glendale, which is driving interest from hotel developers who are working both sites of the interstate. “There are no hotels down there,” he explains, citing the push is to get rooms open before Super Bowl 2008 and the 2007 football season. Within a five-mile radius, there are more than 245,000 residents–and more on the way–to fuel the development push of all product type.

Meanwhile, Mark Development has the NAI team scouting for additional building sites from one to 15 acres in Greater Phoenix. The development focus is shopping centers and single-tenant retail.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.