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GlobeSt.com EXCLUSIVE: $27M Land Buy Sets Up $3B Mixed-Use Project

CHANDLER, AZ-With plans of developing a high-end business park, Cyburt Hall Partners grab 96 acres at the crossroads of Price Road and the Santan Freeway. The plan calls for 1.5 million sf of office space, 200,000 sf of retail product and 300 hotel rooms.

By Jennifer D. Duell | Updated on July 21, 2005

(For more retail coverage, click GlobeSt.com/RETAIL.)

CHANDLER, AZ-A Los Angeles investment group has put up $27 million for a 96-acre cornfield at the intersection of Price Road and the Santan Freeway, opening the door for a $3-billion, mixed-use project for class A office, retail and hospitality uses.

Cyburt Hall Partners LLC acquired the acreage for the Spectrum at Chandler development from a Phoenix land speculator, El Dorado Holdings LLC. Phil Cyburt, a principal with Cyburt Hall, says talks have begun with city officials to finalize the master site plan.

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