Billed as one of the last large tracts in the submarket, the land is positioned at the southwest corner of 7th Avenue and Pinnacle Peak Road. LaPour Partners plans to develop Pinnacle Park Business Center on 35 acres and market the remaining 22 acres for sale, says Chet Yarbrough, director of development for LaPour Partners.

Yarbrough tells GlobeSt.com that the firm will break ground on the first phase in April or May. Phase I will consist of 122,000 sf in four buildings, which will be divisible to 2,700 sf. A second groundbreaking will take place in the summer: three buildings with 158,000 sf, divisible to 5,800 sf. Both phases will be completed by year's end. Groundbreaking for Phase III, which consists of four buildings, totaling 124,000 sf, is undetermined at this time, he says. "It will depend on the absorption of the first and second phases."

Pinnacle Park Business Center will lease for $9.60 per sf to $12.60 per sf triple net, says Bob Lundstedt of Colliers Classic, who represented the buyer along with Darren Tappen of Colliers Classic and Pat Harlan and Steve Sayre at Cushman & Wakefield of Arizona Inc. Carl Johnson of Johnson Commercial represented the seller, Elliot Pollack and Giora Ben-Horin of locally based Benross Corp.