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 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.

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.