GILBERT, ARIZ. Parkview Financial has granted Scottsdale-based Verde Gilbert LLC a $ 28 million home loan to develop Verde at Cooley Station, a lifestyle center located at 17201-17361 E. Williams Field Road, Gilbert. Verde Gilbert LLC is a joint venture between three development companies led by SB2 Communities.
Upon completion, the 96,000 square meter property with 10 buildings will have 44,000 square meters of retail space, 13,000 square meters of office space, 31,000 square meters of restaurant space and 8,000 square meters of fitness space. Verde at Cooley Station was designed as a restaurant-centric, mixed-use project, featuring 25 rental spaces and The Green, a large open-air lawn with a gazebo for music events, fitness classes, park movies, and other activities.
The proceeds from the loan enabled the start of the first phase, which includes retail and a dozen hospitality concepts surrounded by The Green. Some of the stores are slated to open in late 2021, with a planned opening in the first quarter of 2022. Phase two will include 24,000 square feet of retail space, 12,000 square feet of office space, 3,000 square feet of restaurant space, and 8,000 square feet of fitness space. The second construction phase should be completed by the end of 2022.