Stonegate Office Park's collection of eight one-story buildings will sit on eight acres near the northeast corner of 83rd Avenue and Thunderbird Road. Fort Collins, CO-based Western States Development bought the land from Phoenix-based Coyote Thunderbird LLC for slightly more than $2 million. Bryan Johnson, a medical and office condo specialist with Trammell Crow Co.'s Phoenix office represented Western States Development in the land acquisition while Sean Gillespie of Nathan & Associates Inc. represented the seller.

Johnson tells GlobeSt.com that Western States Development wanted to build its first office condo project in the West Valley because of the explosive growth. "The Loop 101 was their target area," he explains, adding the long-term plan is to build three to five more condo projects in the metro.

Stonegate's buildings will range from 9,148 sf to 11,657 sf; suites will be 1,150 sf to 11,667 sf. The office condos will sell for $175 per sf, according to Johnson, who is marketing the project. "We're already seeing some interest from medical and legal professionals, but we don't have any condos pre-sold," he says, adding buyers will benefit from nearby amenities like Arrowhead Mall and Peoria Sports Complex.