CHAMPION PARTNERS DEVELOPING OFFICE-RETAIL PROJECT AT MARLEY PARK IN SURPRISE

By Champion in : News // Mar 2 2007

Surprise – A company formed by Champion Partners in Scottsdale (Ricky Lyons, CEO) plans to develop a office-retail project within the Marley Park community in Surprise. The 32-acre parcel is located at the southwest corner of Litchfield and Waddell roads. Lyons. company paid $13.75 million to purchase the land. The seller was a company formed by DMB Associates Inc. of Scottsdale (Drew Brown, Mark Sklar, Bennett Dorrance, principals). Lyons says he plans to use the land to build a 140,000-square-foot shopping center, a 82,500-square-foot office structure and a 64,000-square foot office condominium development. Construction scheduled to start in June, with completion expected second quarter 2008. Haydon Building Corp. in Phoenix is serving as contractor. Butler Design Group in Phoenix and DPA Architects Inc. in Scottsdale are designing the project. The mixed-use complex is being called Marley Park Plaza. Development cost (land and buildings) estimated at roughly $50 million.

First National Bank of Arizona in Phoenix provided land acquisition financing. Construction financing still to be arranged. The retail component is being marketed by Chip Thor, Jon Matthews and Michelle Millar of RED Realty Advisors in Scottsdale. The retail rental rates will be $30+ per foot. Plans for the office space show a three-story, 82,500-square-foot structure that will be offered for lease, and a 64,000-square-foot, 10-building office condominium complex that will be available for sale. Tom Jacobs, Justin Miller and Lindy Meyer of Grubb & Ellis\BRE Commercial in Phoenix have the leasing assignment on the three-story office. Rental rates still to be determined.

The office condos are being marketed by Eric Butler and Bret Isbell of Logan Commercial Advisors in Scottsdale. The Logan agents are offering office suites and buildings ranging from about 1,500 sq. ft. to 8,000 sq. ft. The shell space is priced at $250 per foot. Find out more from Lyons at (480) 922-9212. The phone number for the principals of DMB Associates is (480) 367-7000. Thor, Matthews and Millar are at (480) 947-7772. The Grubb & Ellis agents are at (602) 954-9000. Reach Butler and Isbell at (480) 860-6900.