Recently, Gilbert's Design Review Board gave its approval to Trammell Crow Company, which is constructing the 50-acre complex east of Crossroads Towne Center retail complex. The national developer is preparing to submit construction drawings to the town, according to Bo Larsen, development manager.
Groundbreaking is planned in early August and the complex is slated for completion early next year, he said.
The project could generate more than 1,000 jobs, Larsen said.
Park Lucero targets technology, research and development, manufacturing, distribution and commercial/residential services.
The project, developed in partnership with Artis REIT, is being planned in two phases. The first three buildings, near Germann Road, total 210,000 square feet. The second phase, near the Santan Freeway, will total 421,000 square feet.
Catherine Lorbeer, principal planner in Gilbert, said the town does not have an abundance of inventory of the flexible warehouse/distribution type compared with its neighbors.
"It's certainly a pretty desirable land-use for us to have," she said. "From what we understand from the property owners and the real-estate community, there's a demand for this type of land use. We try to offer a balance."
Larsen said Trammell Crow is motivated to move on the project, its first in Gilbert.
"We have already received initial inquiries by potential tenants who would love to be located in Gilbert," he said. "Market information indicates there is a significant demand in the Southeast Valley for the size, type and quality of buildings planned for Park Lucero."
Town planners have identified Gilbert's Santan Freeway corridor as a central business district. Other office and industrial complexes that have sprouted in the past years include the Reserve at San Tan, 202 Business Park and the five-story Rome Towers.
Future projects include Nationwide Realty Investors' four-story office building in the Rivulon mixed-use complex along the Santan Freeway between Gilbert and Lindsay roads.
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