"This property is contiguous to what will be Banner Medical's flagship hospital for the entire East Valley," explains Brent Moser, executive vice president of Phoenix-based Grubb & Ellis BRE/Commercial LLC. He says T. Wall Properties put a bid on the land at US Hwy. 60 and Greenfield Road after a previous offer fell out of escrow for the seller, Robert Christ II and Paul Skogebo of Mesa.
Moser tells GlobeSt.com that the acquisition will close in late July, but T. Wall Properties already has plans to sell about 10 to 15 acres to medical office developers and some additional land to hotel developers. He says the buyer will keep back about 40 acres to build class A and back-office space.
"The intention is to break ground either in December or January, finish the entire site with infrastructure, then sell off the medical office portion," Moser says. He is teaming with Grubb & Ellis/BRE senior associate Michael Sutton to sell the land.
Five miles to the east at US 60's junction with Loop 202, T. Wall Properties is under way with another development--Superstition Commerce Park, a mixed-use project set on 36 acres. In Phoenix, the developer is working on a 60,000-sf flex industrial building at 3010 E. Elwood St.
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