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Estrella Gin Business Park Gets New Owners

MHG Commercial Real Estate rendering of possible building at Estrella Gin. Credit: inMaricopa

By Raquel Hendrickson for inMaricopa

Estrella Gin Business Park effectively was sold by the City to two companies for development.

Tuesday, Maricopa City Council approved the purchase agreement of 12.32 acres to J.E.T. Real Estate Holdings and 16.96 acres to Elpida LLC. The total purchase price between the two is $1.9M.

The city is working with two different parties, but Woodglen Opportunities is the master developer working with Construction Solutions Company as the builder and contractor, City Manager Ricky Horst said.

The Elpida LLC portion of the development is controlled by developer Joe L. Cook. Realtor Shane Cook of MHG Commercial expects to lease office space of 1KSF and up and offer build-to-suit construction of 10KSF and larger.

Groundbreaking could be as early as the last quarter of this year.

Read more at inMaricopa.

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