We are watching and waiting for development at the Mesa Elliot Technology park. Development will mean more good quality jobs. Jobs are good news for everyone!
Mesa – Sunbelt Investment Holdings Inc. in San Diego, Calif. has expanded Mesa Elliot Technology Park by acquiring a key parcel that now brings the planned mixed-use project to 270 acres and provides frontage along the east side of the Loop 202 Freeway.
Working through a 1031 exchange entity, Sunbelt Investment Holdings paid $11.888 + million ($4.05 per foot) to acquire 67.5 acres located north of the northwest corner of Ellsworth and Elliot roads. The seller was El Dorado Elliot 128 LLC, . The newly-acquired property, which is now zoned LC (limited commercial), is located within the Elliot Road Technology Corridor.
Property owners in that section of southeast Mesa are eligible for various benefits, including streamlined entitlement, upgraded infrastructure, and tax exemptions. The overlay area has 1,000 + acres of shovel-ready land, including 203 acres that Sunbelt Investment Holdings acquired 3 ½ years ago. That fully-improved site is planned for roughly 2.75 million sq. ft. out of 3.5 million sq. ft. of office, industrial and commercial buildings targeted for the now 270-acre Mesa Elliot Technology Park. Markham expects to have a new site plan for the expanded business park within the next few weeks.
The C&W agents are looking for build-to-suit opportunities, ground-lease deals and will sell parcels ranging from 5 to 100 acres to end users and developers. In addition to the technology uses, Markham says the planned business park is an ideal location for manufacturing, e-commerce, and big box distribution.
In November 2013, BREW reported Sunbelt Investment Holdings paying $18.835 million to acquire the 203-acre tract, which is at the northeast corner of Elliot and Ellsworth roads. The prior owner of that property, developed the infrastructure for the 287-acre business park and sold an 84-acre parcel before the project stalled. The newly-acquired 67.5 acres, suitable for 750,000 sq. ft. of commercial and industrial space, is part of a larger tract that El Dorado Holdings acquired 5 ½ years ago. In September 2011, BREW reported El Dorado Elliot 128 LLC paying $10.79 + million to buy a 128-acre parcel located at the northwest corner of Elliot and Ellsworth roads. El Dorado Holdings still owns 53 acres of that property after selling the portion to Sunbelt Investment Holdings and 7.885 acres at the northwest corner of Ellsworth and Elliot roads. That site, being developed as the 50-bed Arizona General Hospital, was sold in February 2016 for $5.576 million ($16.23 per foot). The Elliot Road Technology Corridor is expected to benefit from the $2 billion data center