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Land Sale Sets Up Two Pinnacle Park Projects

PHOENIX-Bar Development Group secures 2.4 acres to build in the Pinnacle Business Park. Milburn Properties strikes a 27,000-sf sale/leaseback while Innovaquartz is lined up for a 16,000-sf industrial building.

By Beverly Ford | Updated on November 04, 2002

PHOENIX-The Pinnacle Business Park in Northwest Phoenix’s Deer Valley will add two new firms to its growing list of businesses with the $707,285 sale of 2.4 acres to Barr Development Group LLC.

The Scottsdale-based development firm and contractor Exclusive Development Inc. will build two new commercial buildings on the site with completion of both scheduled for July 2003. The buildings, totaling 43,000 sf, will be financed by Marshall & Isley Bank. The buildings will be located at 23030 and 23048 N. 15th Ave.

Milburn Properties, which owned the land, will lease back a 27,000-sf, two-story office and warehouse building for its equine pharmaceutical distribution business, known as Milburn Distribution, at a cost of $2.6 million, Bob Deininger of Scottsdale’s Johnson & Associates tells GlobeSt.com.

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