"The Tramonto project is part of a new community located in the fast growth area of Northern Phoenix," says Tom Kimsey, Voit's senior vice president. Voit has just paid $1.9 million for eight acres to Tramonto's developer, Communities Southwest.
The project, Tramonto Crossing, will be positioned near the intersection of North Black Parkway and Canotia Place in the 2,200-lot residential development. The plan is to break ground this year.
Kimsey says the first buildings will deliver in mid-2006. "We just closed on the land," he tells GlobeSt.com, "so we have not currently sold any condominiums thus far, but we do already have a letter of intent on one unit." The office space, he says, is tagged at $185 per sf.
Rob Stephens of Cushman & Wakefield of Arizona Inc. brokered the land transaction. He and C&W's Chris Latvaaho and Jeff Stapley will market the office and medical condominiums for Voit. Locally based DFD CornoyerHedrick is designing Tramonto Crossing. Valley Commercial Contractors of Phoenix will be the general contractor.
Voit is one of the Valley's leading suburban office developers. In Anthem, Voit is building a 65,000-sf, class A office building on five acres. The project, Independence Plaza, has an estimated cost of $7 million.
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