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GILBERT, AZ-Hudson Realty Capital LLC, in partnership with Biltmore Holdings LLC, has gained control of 13 acres from a local private seller. The partners plan to build 122,000 sf of retail and office space in an as-yet unnamed development with an all-in cost of $15.2 million to $15.8 million.

Hudson Realty, based in New York City, and the Scottsdale, AZ-based Biltmore Holdings will break ground at Power and Guadalupe Roads within six months. Karim M. Demirdache, managing director of Hudson Realty Capital, estimates build-out time will take about one year.

Demirdache tells GlobeSt.com that the master plan involves approximately 100,000 sf of office condo space and 22,000 sf of retail. Preliminary development plans focus on two retail buildings at 11,000 sf each and six two-story office buildings ranging from 6,200 sf to 13,500 sf.