South Anchorage project begins site, utility work
CIRI Land Development Co. (CLDC) signed a major tenant to an office building CLDC will construct as part of the mixed-use office and retail park it is developing in South Anchorage. The tenant signed a lease for 40,000 square feet of office space in the new building. CLDC owns the 22-acre property by the Klatt Road/C Street curve near the O’Malley Road and C Street intersection that the office park will be built on.
The agreement is a significant milestone in the lease negotiations CLDC is conducting for the park, which could include three Class-A office buildings that contain 140,000 square feet of office space.
“The office park will be a very nice addition to the CLDC income property portfolio,” said Greg Jones, CIRI vice president of real estate. “The leases are the first phase; we anticipate the buildings could be occupied by spring 2011.”
The draft site plan of the office park includes an 83,000-square-foot retail store, two lots for retail or restaurant use, the office buildings and parking lots. CLDC selected a contractor for the park’s initial utility and site work in early July by competitive bid, and site work is currently underway.