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Pulte Homes has signed a 10-year lease to become the anchor tenant in the 173,000-sf first phase of Terra Verde Corporate Campus. Sources uninvolved with the transaction say the home-builder will pay approximately $30 million for 96,000 sf and accompanying TIs in the building, which is under construction.

Pulte will move to its new location at Loop 101 and Bell Road in fall 2009, two months after developer Desert Troon Cos. completes the building. Pulte is currently at Raintree Corporate Center at 15111 N. Pima Rd. Pat Williams, senior associate and Steve Corney, managing principal with Staubach Co.’s Phoenix office were the tenant representatives.

Mike Beall, executive director with Cushman & Wakefield of Arizona Inc. says Pulte will take all but the third floor of the building and about half of the ground floor. Beall, who represented Desert Troon in the transaction with C&W senior director Tim Whittemore, says the speculative building represents one of the larger blocks of available space in the Scottsdale submarket.

“Activity is good on the property,” he says. “We have other proposals out, but we aren’t far enough along right now to determine whether we’ll get commitments.” He tells GlobeSt.com that the Scottsdale-based Desert Troon will launch construction on the second building when a little more space in the first phase has been leased.

Upon completion, $140-million Terra Verde Corporate Campus will have three buildings totaling 500,000 sf. Beall says Desert Troon acquired the land for development about two years ago, and the timing is good right now to begin building office space. “This first building is right up against the freeway, with great visibility, great views of the mountains and good access to amenities and labor,” he adds.

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