Avondale, Ariz. — Gantry has secured a $9 million construction loan for the development of Phase IV of Park 10 at Avondale, a mixed-use development located in the West Valley Phoenix suburb of Avondale. Situated on eight acres, Phase IV will include a build-to-suit restaurant for Cooper’s Hawk, as well as a second building that offers inline restaurant space for 85C Bakery and an unannounced third tenant.
Adam Parker and Chad Metzger of Gantry’s Phoenix office represented the borrower, Parkland Development, in the transaction. A regional bank provided the three-year, interest-only loan. Owned and developed by Park Development, Park 10 at Avondale is a 43-acre master-planned project that will offer 424,000 square feet of entertainment, hotel, restaurant, retail and medical office space upon completion, according to AZ Big Media.