Desert Troon expects to spend the next four months readying the 17.2-acre site at Loop 101 and Bell Road, including excavating and building two subterranean parking levels that will connect all three office structures. First to rise will be a 183,984-sf three-story structure. The Scottsdale-based developer plans to add 157,585-sf and 120,572-sf buildings, each with views of different golf course holes.
Desert Troon acquired the site roughly 18 months ago from Houston-based Hines. "It was always planned for office development," says Tim Whittemore, senior director of Cushman & Wakefield of Arizona Inc. "It just happened to sit in the middle of a TPC golf course." C&W sold the dirt to Desert Troon and got the leasing assignment as a result, according to Whittemore, who had a hand in the sale.
Terra Verde One will come out of the ground as spec, but there already are would-be tenants milling about. "We've been very happy, particularly at this point, to have the activity that we've had," Whittemore tells GlobeSt.com. "Based on some activity we have right now, that may expedite phase two." The developer began prepping the site last month. Terra Verde One will deliver in summer 2009.
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