SCOTTSDALE, AZ- National Retail Development Partners LLC will break ground in the third quarter on the $45-million Ironwood Festival. The 94,285-sf shopping center, ticketed for a 13.9-acre tract, will deliver by second-quarter 2009. The developer earlier this month acquired the site at Pima Road and Union Hills Drive from DMB Associates Inc. and Circle Road Equities, both from Scottsdale. Jeffrey Wolfer, president and co-CEO of the Hackensack, NJ-based Kennedy Funding Inc., says the 81,000-sf retail component and 13,285 sf of office space are partially preleased. Kennedy Funding provided $11.5 million in financing for the land acquisition. Dak Digerness, development associate with National Retail Development Partners, says ground leases have been signed with Fresh & Easy Neighborhood Market, M&I Bank and Tutor Time and final...
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