By Eric Jay Toll for The Arizona Builder’s Exchange

Original Source: Business Real Estate Weekly of Arizona

Photo Credit: GlobalBroker.com

Wentworth Property Co. is set to close on 80 acres at 59^th Ave. and Van Buren St., Phoenix, to build a 1.3M SF industrial and warehouse project in multiple buildings. BREW estimates the land will price at more than $10M (Over $125K/ac). Butler Design Group is designing the project and shepherding a rezoning from residential (R-5)  and commercial (C-2) to allow for a planned unit development (PUD) zoning. No general contractor has been selected.

The developer says plans are still in the works, but the intent is to put up some spec buildings, seek out build-to-suit opportunities and possibly spin off some parcels to other buyers. Wentworth hopes to have zoning in place during the first quarter 2013 with a second or third quarter construction start. The property adjoins a potential route of the Loop 202 Ahwatukee Extension. The freeway–slated for possible construction a decade from now—bypasses I-10 through downtown Phoenix linking I-10 at Pecos Rd. to I-10 at 59^th Avenue.

Read more at BREW