Hewson is well-known in the Phoenix market for developing office properties, including the national headquarters for high-tech distributor Avnet, the largest corporate-based company in the city, according to Logan.

Cavan Development will develop Westbrook Office Park on the southeast corner of 87th Avenue and Union Hills Drive in Peoria. Union Hills Commercial LLC of Scottsdale recently sold about four acres to the developer for $1.1 million. Work is expected to begin in May and deliver in the fourth quarter.

The seller had 9.5 acres on the market, but it wasn't a particularly attractive size for potential developers due to the size, according to Randy Grouskay, vice president of the land division for Colliers International's Phoenix office. "It had been on the market for years. I'm about the seventh broker who's worked on this," says Grouskay. "It's an untested area for condo-office, so the usual suspects, i.e. condo developers, did not want to make a 10-acre commitment." He says he got Cavan's purchase commitment on the same day that the owners decided to split the acreage into two parcels.

Escrow lasted about a year due to multiple site-plan amendments that had to be filed with the City of Peoria. Listed at $7 per sf initially, the deal closed at $6.15--a healthy number, Grouskay says, considering the developer had to front two large assessments totaling $350,000. Cavan's broker was Dan Byron of Sperry Van Ness in Phoenix.

The $4.5-million Westbrook Office Park will contain 35,954 sf in six freestanding office condominium buildings. Buildings, ranging from 3,514 sf to 10,043 sf, will have suites for sale as small as 1,200 sf at $165 per sf, according to Logan, the development's listing agent. He says a chiropractor, orthodontist and mortgage company already have signed purchase agreements.

Phoenix-based LGE Design Build is the general contractor for a project designed by Archicon LC of Phoenix. Grouskay says there are another five acres available for sale south of Cavan's development site.