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PHOENIX-Wanting to take advantage of untapped demand and strong demographics in Greater Phoenix, Lauth Property Group is ready to launch construction on initial phases for 1.23 million sf of speculative projects throughout the metro. When all is said and done, the Indianapolis-headquartered company will be investing $550 million into the market.

The 2008 projects will include office and industrial parks, mixed-use developments and a medical office complex, with more of the same planned for the following year. “We have a sophisticated underwriting process and believe that each of the sites we selected contains a number of competitive merits allowing us to compete well in the area,” Austin Lehr, Lauth’s western regional partner, tells GlobeSt.com. He adds that none of the projects scheduled for construction will cannibalize or compete with the other.

Furthermore all the developments will carry LEED certification. Lehr explains that Lauth has been moving in the green direction for awhile. “We also believe this issue is becoming more important to our customers,” he adds.

Lehr says the projects will be built in phases and market-driven. While all projects will be speculative, he says build-to-suits aren’t out of the question. “What we’d like to see is a mix of both national and local tenants who are conducting long-term sustainable businesses, and are interested in using their landlord as a partner for success in their business,” he adds.

Riverview Point, situated on 32 acres at Bass Pro Drive and North Alma School Road in Mesa, is already under construction. The 443,000-sf mixed-use development consists of six structures, including a 48,000-sf medical office building. Brad Anderson and Luke Walker with CB Richard Ellis’ Phoenix team are leasing the development.

In 2008, Lauth will start work on the following projects:

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