Loop 202 bringing businesses to Gilbert - East Valley Tribune: News

Loop 202 bringing businesses to Gilbert

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Posted: Saturday, January 26, 2008 6:01 am | Updated: 8:56 pm, Fri Oct 7, 2011.

One of Gilbert’s early attempts to transform its Loop 202 corridor into an economic engine is almost ready to take off.

Rome Towers, a five-story office and retail condominium project at Val Vista Drive and Pecos Road, will see its first tenant move in within the next few weeks, a development spokesman said during a town reception held inside the new building to highlight upcoming projects.

“This is one of our crown jewels for commercial development at this point,” Councilman Les Presmyk said of Rome Towers.

The development is exactly what the town is moving toward in an attempt to develop Gilbert’s section of the Loop 202 Santan Freeway into a retail and office center like Chandler’s Price Road corridor or Scottsdale’s section of Loop 101.

“Basically, the Santan corridor is where we’re really looking to build that sort of thing,” Presmyk said.

Rome Towers is one of about a dozen projects currently under construction or in the planning stages along the Loop 202 corridor.

Among the projects coming to the area are The Reserve at San Tan, a 37-acre business park, and the Gilbert 202 Commerce Center, a 50-acre industrial park. Both are planned just east of Gilbert and Germann roads.

In fact, there’s enough development in the area that commercial real estate adviser Sperry Van Ness will be opening a branch office in south Gilbert to keep up.

“With everything going on down here, we have to be here,” said Rommie Mojahed, an adviser with the firm.

Among Mojahed’s clients are Forum at Gilbert Ranch, a 12-acre office and retail complex at Val Vista Drive and Williams Field Road, and The Promenade at San Tan, a 43-acre project about to break ground at the southeast corner of the same intersection.

The developer behind Forum at Gilbert Ranch, VP Commercial, came to the area for its proximity to the new freeway and the recently opened Mercy Gilbert Medical Center and SanTan Village mall.

“We really look at that as one of the most dynamic areas in the Valley,” said Richard Richmond, a principal with VP Commercial.

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