RRS & Co. and LGE Design Build Corp. pocketed land at the northwest corner of McClintock Drive and Chandler Boulevard. The acreage is part of a 98-acre parcel bought in February for $7.2 million by Oklahoma City-based Sooner Investments and Collett & Associates of Charlotte, NC, both well-known retail developers in the Valley. Represented by Bill Gosnell and Allen Lowe with Lee & Associates Arizona, the sellers are retaining 25 acres for a power center, says Steve Bodeman, an executive vice president and principal with GVA Daum in Phoenix.

Bodeman tells GlobeSt.com that the acreage wasn't on the market, but he decided to place an unsolicited offer on behalf of RRS & Co. and LGE. "The land has been in limbo for more than 10 years because although it's zoned industrial, residents in the neighborhood were not in favor of big box distribution centers," he says.

The partnership plans to build out the acreage with flex industrial build-to-suit structures, ranging from 10,000 sf to 15,000 sf with a high level of finish out. "This type of product fits in a lot better with the community," Bodeman says, adding the companies worked with the City of Chandler during due diligence to make sure that the plans would pass muster.