{"id":1004672543,"date":"2023-07-19T03:21:21","date_gmt":"2023-07-19T11:21:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004672543"},"modified":"2023-09-05T00:32:25","modified_gmt":"2023-09-05T08:32:25","slug":"suncap-to-expand-office-portion-of-phoenix-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/suncap-to-expand-office-portion-of-phoenix-campus\/","title":{"rendered":"SunCap to Expand Office Portion of Phoenix Campus"},"content":{"rendered":"<div id=\"attachment_1004672551\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Gilbert-Spectrum-Bldg-3-Rendering-e1689677828889.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004672551\" data-attachment-id=\"1004672551\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/suncap-to-expand-office-portion-of-phoenix-campus\/gilbert-spectrum-bldg-3-rendering\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Gilbert-Spectrum-Bldg-3-Rendering-e1689677828889.jpg\" data-orig-size=\"2058,1545\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Gilbert Spectrum Bldg 3 Rendering\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Rendering of Gilbert Spectrum Building 3&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Gilbert-Spectrum-Bldg-3-Rendering-e1689677828889.jpg?w=1024\" class=\"wp-image-1004672551 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/07\/Gilbert-Spectrum-Bldg-3-Rendering-e1689677828889.jpg?w=300\" alt=\"Rendering of Gilbert Spectrum Building 3\" width=\"300\" height=\"225\" \/><\/a><p id=\"caption-attachment-1004672551\" class=\"wp-caption-text\">Rendering of Gilbert Spectrum Building 3. <em>Image courtesy of SunCap Property Group<\/em><\/p><\/div>\n<p><strong>SunCap Property Group<\/strong> has announced the next office expansion of its 64-acre Gilbert Spectrum campus in Gilbert, Ariz. The 119,222-square-foot, Class A building is expected to break ground this month, with delivery slated for the fourth quarter of 2024.<\/p>\n<p>Dubbed Building 3, the office project landed a $37.7 million construction loan in June, originated by <strong>First National Bank of Pennsylvania<\/strong>, CommercialEdge data shows. <strong>Graycor Construction Co.<\/strong> will serve as general contractor, <strong>Blamer Architectural Group<\/strong> is the architect in charge, while <b>Lee &amp; Associates <\/b>is the appointed leasing broker.<\/p>\n<p>Developed in a joint venture with <strong>GID<\/strong>, the business park currently comprises 625,828 square feet of office and industrial space across six buildings, SunCap Senior Vice President Mike Orr said in prepared statements. Upon full build-out, Gilbert Spectrum will feature up to 850,000 square feet of office, flex industrial and tech space.<\/p>\n<p>Current tenants at the campus include Northrop Grumman, which fully occupies the 120,294-square-foot Building 5 and the 100,000-square-foot Building 9, along with S&amp;M Moving Systems, Varsity Brands and Barner Industries.<\/p>\n<h2>The newest office building at Gilbert Spectrum<\/h2>\n<p>To be situated on 10 acres at the southwest corner of Elliot Road and South McQueen Road, Building 3 will feature LED lighting, an outdoor amenity area and a parking ratio of 5 spaces per 1,000 square feet. Leasing at the property will be led by Lee &amp; Associates&#8217; Associate Blake Peters and Principal Chris McClurg.<\/p>\n<p>Earlier this year, the developers of Gilbert Spectrum announced that <a href=\"https:\/\/www.commercialsearch.com\/news\/gid-jv-grows-phoenix-industrial-campus\/\">three more warehouses<\/a> have been completed, adding some 310,000 square feet of space to the park.<\/p>\n<p>Last month,<a href=\"https:\/\/www.commercialsearch.com\/news\/sihi-graycor-kick-off-4-msf-phoenix-industrial-park\/\"> Sunbelt Investment Holdings Inc. and Graycor<\/a> broke ground on a 4-million-square-foot industrial complex in Goodyear, Ariz. The development is part of a larger, 1,600-acre business campus, slated to encompass 20 million square feet of office, industrial and retail space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The development will total 850,000 square feet of office, flex industrial and tech space.<\/p>\n","protected":false},"author":2991,"featured_media":1004672551,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21742,21747,1601,15],"tags":[45662,51093,44735,32762,36576],"class_list":["post-1004672543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-latest","category-office","category-phoenix","category-west","tag-first-national-bank-of-pennsylvania","tag-gid","tag-graycor-construction-company","tag-lee-associates","tag-suncap-property-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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