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CHANDLER, AZ-A little more than a month after releasing plans for its proposed 468,000-sf 101 Chandler, local developer Biltmore Holdings LLC has entered into a contract with Rockefeller Group Development Corp. to sell the 22.4 acres for the restaurant and office plan. LGE Design Build of Phoenix, which was in partnership with Biltmore Holdings on the development, will remain a partner in the $90-million development.

A source familiar with the deal tells GlobeSt.com that sale of the 2919 W. Chandler Blvd. site is anticipated to close Monday, but couldn’t confirm the price. Dick Lund, Biltmore Holdings’ principal, won’t elaborate on the reasons for the sale, only saying it was a non-business decision involving a personal matter with one of the partners. The scraped site formerly held Gould Electronics’ 148,367-sf plant.

Biltmore had planned a 234,000-sf spec office building as its first phase for 101 Chandler, claiming it was bringing class A office space to a submarket that needed it. A spokesman with the New York City-headquartered Rockefeller Group Development Corp. says project details are being kept quiet until after the closing so it’s uncertain if the timeline and build-out will remain the same.

As Biltmore gets ready to pass the site, it and LGE are in escrow for 12.6 acres at Dove Valley and Scottsdale roads in Scottsdale. The deal, scheduled to close in mid-December, will add a development site for a 95,000-sf retail and office complex.

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