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Local Developer Plans $9-Mil Office Project for North Scottsdale

PHOENIX-A local development team has purchased a parcel in the upscale Perimeter Center business park in north Scottsdale and is building a three-building office/warehouse project there.

By D.J. Burrough | Updated on January 29, 2001

PHOENIX-A local development group has purchased a parcel in north Scottsdale where the company plans to build an 86,450-sf office and industrial project. Lynn and Craig Babcock purchased the 6.1-acre parcel at the southwest corner of Anderson Road and Hartford Drive in the Perimeter Center business park in north Scottsdale for nearly $3.2 million. The project is just north of Bell Road and west of Loop 101.

The Babcocks plan to build three buildings on the site, a 37,800-sf flex office building, a 30,650-sf warehouse/office and an 18,000-sf warehouse/office. The first building, the 37,800-sf flex office, is expected to be ready for occupancy by third quarter 2001. The estimated development of the three buildings, including land costs, is more than $9 million.

The Babcocks have developed and own a number of office/warehouse projects in the Scottsdale Airpark area, which is just south of the parcel they just purchased. The couple owns more than 100,000-sf of office/warehouse space in the area and is building another office/warehouse project in the airpark at 15610 N. 83rd Way. This project is expected to be completed by mid-year.

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