The seven-year lease has a payout of nearly $3 million for developers and owners, Donald Helmholdt and Dr. Shana Helmholdt, according to George Long, an associate with Colliers International Inc.'s Phoenix office. He and Kim Soule represented the Helmholdts while Western International University was represented by Development Group.
Thunderbird Office Park @ 101 is located at the crossroads of 83rd Avenue and Thunderbird Drive, a freeway-visible property and close to Arrowhead Mall and the Peoria Sports Complex. The under-construction buildings total 150,000 sf in two-story designs. The quoted rent is $24.50 per sf to $25.50 per sf.
Long says it's been at least seven years since class A office space was built in the area. But, he explains, the housing market is growing so rapidly that it's created strong demand for the professional services' sector.
Local firm Patrick Hayes Architecture designed Thunderbird Office Park @ 101. St. Louis-based McShane Corp. is the general contractor.
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