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Developer Plans $35M Office Condo Project

GILBERT, AZ-The developer of the 22-acre Spectrum Falls will break ground by year's end on 100,000 sf of a 200,000-sf plan primed for buyers and tenants looking to land within a half mile of a new hospital. The first phase will deliver by summer 2005.

By Lee Simmons | Updated on June 21, 2004

GILBERT, AZ-Before the year’s out, ground will break on the first phase to Spectrum Falls, a 200,000-sf business park catering to medical office users. The $35-million office condo project will have space ready to occupy by summer 2005.

Prospective buyers already signed letters of intent for nearly 50,000 sf with project developer W Development of Tempe, a division of Vistoso Partners LLC, Bill Douglass, president of Tempe-based Upland Group Inc., tells GlobeSt.com. In a “for sale” and “for lease” strategy, keys will turn for individual suites or entire buildings.

Spectrum Falls will be located inside the 1,470-acre Spectrum at Val Vista master-planned community. Its 31 buildings will range from 1,200 sf to 15,000 sf. An 18,000-sf custom-designed structure has been earmarked for a family practice group.

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