Phoenix-based Opus West Corp. will file for Chapter 11 bankruptcy protection in July 2009, according to its parent company, Opus Corporation of Minneapolis, one of the largest developers in the country. Opus West's CEO Tom Roberts has already left the firm, exiting in May 2009.

Opus West developed several prominent Valley projects, including office towers at the Camelback Esplanade in Phoenix, the Collier Center in downtown Phoenix and Discount Tire's corporate headquarters in Scottsdale. More recently, it has developed the
Scottsdale Waterfront and the Tempe Gateway midrise office project. Current projects include the Glendale Corporate Center, which consists of approximately 300,000 square feet of office space and is located near the University of Phoenix Stadium. It was funded in part by a $31 million loan issued by Bank of the West. The bank has filed for foreclosure on the property on May 14, 2009 according to the Phoenix Business Journal. The Opus West bankruptcy could delay the foreclosure sale.

John Laub is the Chairman of the Phoenix CEO-CFO Group.

1. "Opus West Files for Chapter 11 Bankruptcy." Jan Buchholz. Phoenix Business Journal. July 1, 2009.

2. "Opus West President Leaves Firm. Seeks New Opportunities. Exit Comes as Downturn Tests Real-Estate Company." Catherine Reagor. The Arizona Republic. May 17, 2009.

3. "Opus East, L.L.C. and Opus West Corporation to File for U.S. Bankruptcy Protection." Company Press Release. July 1, 2009.