Elmalon Partners expects to start construction in the summer and complete the office flex buildings by the end of the year. The buildings, with an estimated $6-million development cost, will lease for $7.80 per sf to $8.40 per sf. Phoenix-based DFD Cornoyer Hedrick is designing the project. A general contractor has not yet been chosen.

Carlson Real Estate's flex industrial plan calls for 120,000 sf in two single-story buildings that will be positioned on a 10-acre tract. The balance of its holding is earmarked for build-to-suits or land sales. The estimated $10-million project will break ground this summer. "The site is fully improved so we don't have to worry about streets or other infrastructure," Joe Ihrke, vice president of Carlson Real Estate, says.

The project will consist of an 80,000-sf building and 40,000-sf design, with 18- to 20-foot clear heights, depths of 120 to 140 feet and finish-outs of about 40% to 60%. They will lease for $7.20 per sf to $9.60 per sf triple net.

"The west side is experiencing explosive growth," Ihrke says, adding that 60% of the Valley's homes will be built on the western edge. "That growth is what has led us out here." Bill Bayless of CB Richard Ellis Inc. will market Carlson's properties. The architect and general contractor have not been selected.