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Ryan Cos. Looks to Break Ground on 850,000 SF of Industrial Space.

Phoenix-A $35-million business park is slated to add nine flex-industrial assets to the local inventory.

By D.J. Burrough | Updated on September 28, 2000

PHOENIX-Ryan Cos. has closed on a 56-acre parcel in the suburb of Chandler and plans to begin construction later this year on a $35-million business park that will include nine flex-industrial buildings totaling more than 850,000-sf.

The Phoenix office of Ryan Cos., which has its corporate headquarters in Minneapolis, purchased the parcel last month for $5.9 million. The parcel is at the corner of 56th Street and Pecos Road in Chandler. Ryan purchased the land from General American Life Insurance, which bought the vacant parcel in 1997.

Construction of the first three buildings in the Chandler Freeways Business Park is expected to begin later this year. The flex-industrial buildings in phase one feature 31,300-sf, 46,900-sf, and 86,900-sf configurations. The buildings are expected to be ready for occupancy by the second quarter of 2001.

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