History

Esterra Development LLC began operations in 2005. The initial purpose of the business was to provide a development vehicle for Gary Arnold (Esterra’s owner) and his associated investors.

As an offshoot of Mr. Arnold’s past technology business and current commercial brokerage activities, some of his investment contacts asked him to acquire a land parcel and develop it to completion vs. simply acquiring existing income properties. This first project was approximately 10 acres of commercially zoned land at Bell Road and 114th Avenue in Surprise, Arizona. This parcel eventually became Bell Mar.

Concurrently with Bell Mar, Mr. Arnold acquired land in the Mesa Commerce Center and built a speculative 20,000 square foot office/warehouse. This property was sold prior to completion to an owner/user and realized a strong annualized return on investment.

In late 2007, Esterra was approached to purchase and develop a 1.5 acre site in Albequerque, New Mexico that Esterra will oversee the building of an IHOP. This site as well contains room for an additional build-to-suit project of up to 3000 square feet with a drive thru if needed. Esterra, as part of its "build-to-suit" program , provides a complete turn-key service for national retailers. Esterra arranges and establishes all financing, builds out the project, holds and acts as landlord of the completed project, and ultimately sells the retail store as a NNN investment to a 3rd party investor. The IHOP development is scheduled to be completed in late summer of 2008