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L.A. Developer Plans 12,000-SF Shopping Center

GILBERT, AZ-Elsinore Developers LP scoops up the last piece of land in Continental Tech Center, paying $696,456 in cash for 1.7 acres to get an inroad to the Valley. The Los Angeles-based firm's project will cost $2 million, including the land cost.

By Jennifer D. Duell | Updated on May 11, 2005

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GILBERT, AZ-A niche developer of retail strip centers from Los Angeles has bought 1.7 acres for its first project in the Valley. Ground will break in the fourth quarter on a 12,000-sf project.

Elsinore Developers LP acquired the last piece of available land in the Continental Tech Center from Biltmore Holdings XI LLC for $696,456. The multi-tenant retail project, which has yet to be named, will cost roughly $2 million, including the land cost, says Marc Tuite, a senior associate with Grubb & Ellis/BRE Commercial LLC. The Arizona Avenue land is suited for light industrial or retail development, he says.

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