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Developers Team on West Valley Project

PHOENIX-Carlson Real Estate Co. partners with Elmalon Partners to develop the 31-acre West 101 Commerce Center. In striking the deal, Carlson buys 10 acres to build 118,000 sf in three flex office buildings plus takes a 60% stake in the balance of the land.

By Jennifer D. Duell | Updated on October 26, 2004

PHOENIX-Carlson Real Estate Co. has taken possession of 10 acres from Elmalon Partners for $3.1 million and 60% of another 21 acres for $3.6 million. The acreage is located at the northeast corner of Loop 101 and Interstate 10 in the West Valley.

“We like the west side with all the growth,” says Joe Ihrke, vice president with Carlson Real Estate. “We also liked the site because of the location at the intersection of two freeways and freeway frontage.”

The locally based Elmalon retained a 40% stake in the 21 acres. The entire site will be developed as the West 101 Commerce Center, a master-planned business park with flexible zoning that allows development of retail, hotel, office and industrial uses.

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