McData, a leading open storage network solutions company, is scheduled to occupy the structure in May 2002. Opus Northwest is building the first of what could end up a nine-building, 1.4-million sf development in Great Western Park, a 301-acre business park at the intersection of W. 112th Avenue and N. Simms St. Real estate experts estimate McData's entire campus could have a completed value of about $300 million.

The entire park could handle about 3.85 million sf and have a completed value of about $770 million. McData is the first user in the park, being developed by the Church Ranch Co. Alice McBride, of Denver-based McBride & Co., had brokered the land sale to McData.

The initial $60-million phase is being financed through a synthetic lease that has been arranged by the Lund Financial Corp. of Los Altos Hills, CA. "This is the lowest cost of occupancy available for companies that qualify," says Craig Lund, principal. The lease, he says, "enables McData to controls its real estate for future growth."