Business park gets new owners to jump-start development

Estrella Gin Business Park effectively was sold by the City to two companies for development.

Tuesday, Maricopa City Council approved the purchase agreement of 12.32 acres to J.E.T. Real Estate Holdings and 16.96 acres to Elpida LLC. The total purchase price between the two is $1.9 million.

Estrella Gin, which is located along Edison Road from Roosevelt Avenue to State Route 238, has been a focus of the City’s economic development department for years. In August, the City sold two acres to Mel’s Auto (NAPA Auto) for around $152,000.

The only structure on the acreage is the City of Maricopa Fire/Medical Department administrative office trailer, which is temporary as an admin building is being built across the street.

City Manager Ricky Horst said he “couldn’t be more delighted” to present two projects to the council for their vote. He said the projects create 275,000 square feet of mix of office, flex space, light industrial and warehouse.

“We’re talking about the full and complete development of the Estrella Gin Commerce Park,” Horst said.

The city is working with two different parties, but Woodglen Opportunities is the master developer working with Construction Solutions Company as the builder and contractor, Horst said.

The Elpida LLC portion of the development is controlled by developer Joe L. Cook. Realtor Shane Cook of MHG Commercial expects to lease office space of 1,000 square feet and up and offer build-to-suit construction of 10,000 square feet and larger.

Groundbreaking could be as early as the last quarter of this year. The companies are aiming for a diverse array of businesses to fill the space.