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5/19/25
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Parkland Development has obtained a $9 mil construction loan for development of three new dining locations at an eight-acre site located at the southeast corner of McDowell Rd and N 107th Ave in Avondale, a West Valley suburb of Phoenix. The project represents phase four of the Park 10 retail center and will deliver new locations for Cooper’s Hawk Restaurant, 85C bakery and one more tenant to be announced soon.
The construction financing was provided by a regional bank and features a three-year loan term and interest-only payments. It was arranged by Adam Parker and Chad Metzger with Gantry.
According to Parker, the borrower is already working on Phase 5, and they wanted the ability to complete the horizontal development for Phase 5 while they are completing the horizontal development for Phase 4. The new loan not only provided $9 mil for the construction of Phase 4, but the lender also agreed to provide a separate construction facility to fund horizontal improvements for the next phase.
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