The Phoenix-based company will start construction on five speculative buildings within a year, says Gerry Blomquist, a principal with MainSpring Capital Group. The development tag is expected to be as much as $75 million, he tells GlobeSt.com. The buildings, planned for the intersection of Via De Ventura and Loop 101, will be developed in partnership with Opus West Corp.

"We are really bullish on the market," Blomquist says. The buildings are part of a larger plan to develop three million sf of mixed-use space in Pima Center. The just-approved construction is still being mapped out, but it will sit on abutting land to a 57-acre, $50-million development with 500,000 sf coming out of the ground in 11 buildings. The space is just 20% preleased, he says.

MainSpring's present construction consists of four assembly-distribution buildings, totaling 123,406 sf, and five flex buildings with 126,331 sf. The space will deliver in March 2006, just a month before the developer delivers a two-building office complex with 73,000 sf of class A space. MainSpring and a regional construction company have preleased 17,000 sf in the complex, which has just broken ground.