X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MESA, AZ-Taking advantage of the Loop 202 completion, Glimcher Ventures Southwest LLC is planning a 52-acre, mixed-use development, Baseline Marketplace. The all-in cost for the 175,000-sf retail component and more than 400 multifamily units is $100 million, with the price tag on the office side not yet known.

David Glimcher, president of Glimcher Ventures Southwest, says the retail development at the intersection of Loop 202 and San Tan Freeway will begin in the spring. Trillium Residential LLC in Phoenix has been tapped to handle the multifamily development, planning to launch construction at the same time. A groundbreaking date for the office component hasn’t been determined. “We’re talking with several office developers and hope to have a decision made within the next 90 days,” Glimcher tells GlobeSt.com. He says the breakout is 20 acres for retail and 12 acres dedicated to office, with the remainder going to multifamily development.

Glimcher says retailers’ interest in the project is strong although he expects it will be awhile before anything will gel. “We’re looking at restaurants and more traditional service retail, something in the fitness category and some automotive-related uses,” he says. “We have a lot of interest, but likely won’t have anything before the early part of Q1 2008.” He adds it’s likely that retail leasing will be outsourced.

Glimcher, whose company is behind other developments such as the 300-acre mixed-use Surprise Pointe in Surprise, AZ, says development has been hot on the southwest side of Mesa, thanks to the completion earlier this year of Loop 202, also known as the San Tan Freeway. “This area couldn’t be developed prior to this point because of accessibility,” he adds.

Baseline Marketplace was designed by T2 Architecture Group LLC of Phoenix. A general contractor hasn’t been selected.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.