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Orsett Buys Last Remaining Lots at Spectrum Ridge Business Park in Phoenix

Plans for the Eight Acres Could Include 100,000 SF of Development
March 1, 2018
Orsett Properties acquired the last remaining lots totaling 8.3 acres in the mixed-use Spectrum Ridge at Deer Valley business park in Phoenix, AZ from Turner Development.

Turner Development and the Vazza Co. have already built more than 500,000 square feet within the speculative park at the intersection of 7th St. and Deer Valley Rd. Air Service International, Big Star Finance, Boyce & Associates and E3 Innovation are headquartered at the park. Additional tenants include Six Sigma Systems, Savant Software, Acosta and Pet Firm.

Orsett, headquartered in Boston, manages more than one million square feet of office, retail and industrial space and specializes in shell construction, design-build work, tenant improvements and construction management. Plans for the remaining lots could include up to an additional 100,000 square feet of new development.

Michael Ciosek, Eric Bell and Dylan Scott of Kidder Mathews brokered the deal on behalf of the seller, which completes $10 billion of construction each year, according to their site.

For more information on this transaction, please refer to CoStar COMPS #4151388.
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