March 9, 2007 Volume XIII, Number 9 BREW brewaz.com

Chandler – A company formed by Champion Partners in Scottsdale (Ricky Lyons, CEO) plans to develop a office-retail project within the Fulton Ranch community in Chandler. The company paid just under $4.09 million to acquire the 13.8-acre parcel, located at the northwest corner of Chandler Heights and Arizona Avenue. The seller was a company formed by RED Development in Scottsdale (Scott Rehorn, Mike Ebert, principals). Lyons says Champion Partners intends to develop 60,000 sq. ft. of office condominiums and 38,000 sq. ft. of retail space. Butler Design Group in Phoenix and FM Group Inc. in Phoenix is designing the project, being called Marketplace at Fulton Ranch. Construction scheduled to start third quarter 2007, with completion expected first quarter 2008. GCon Inc. in Phoenix to serve as contractor. Development cost (land and buildings) estimated at about $18 million. Home National Bank in Scottsdale provided land acquisition financing. Construction financing yet to be arranged. Champion Partners plans to sell office suites and buildings ranging from 2,000 sq. ft. to 8,000 sq. ft. Shell space to be priced at $275 per foot. Phil Wurth of Logan Commercial Advisors in Scottsdale is marketing the office condos. The retail plaza is being marketed by Chip Thor and Jon Matthews of RED Realty Advisors in Scottsdale. The rental rate for that space is $32 per foot. Champion Partners has been an active developer of retail and office properties in the Valley. The company is looking for additional development opportunities in the Phoenix area. Last week, BREW reported Champion Partners planning to develop a 286,500-square-foot office-retail project within the Marley Park community in Surprise. Find out more from Lyons at (480) 922-9212. Talk to representatives of RED Development and RED Realty at (480) 947-7772. Reach Wurth at (480) 860-6900.