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500,000-SF Tribal Land Project Gets Green Light

SCOTTSDALE, AZ-Five more buildings totaling 500,000 sf of class A office and assembly-distribution space have been added to an under-construction development with 500,000 sf in 11 buildings. The add-on product will cost as much as $75 million.

By Jennifer D. Duell | Updated on May 30, 2005

SCOTTSDALE, AZ-MainSpring Capital Group’s plan to build 500,000 sf of class A office and assembly-distribution space on 40 acres at Pima Center has been approved by the landowners, more than 200 families of the Salt River Pima Maricopa Indian Community.

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.

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