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Westech Corporate Center Stacking Up Land Closings

CHANDLER, AZ-SunAmerica and Richard Jensen of Missouri seal a 3.8-acre buy in the 140-acre Westech Corporate Center. Three more land closings should clear the pipeline in 60 days while brokers float an option contract for another prospect's final review.

By Connie Gore | Updated on November 12, 2001

CHANDLER, AZ-A Missouri-based commercial printing company is planning an end-of-year or early 2002 ground-breaking for a corporate headquarters and printing facility on a 3.8-acre tract in SunAmerica Investment Inc.’s 140-acre Westech Corporate Center in Chandler. Buyer Richard Jensen of RX Systems has paid $464,000 for the land and represents the third buyer at the developing business park.

Three other buyers have optioned about six more acres and should close their deals in 60 days, Andy Markham of Grubb & Ellis Co.’s Phoenix office tells GlobeSt.com. Meanwhile, brokers have just shuttled off another option contract for one acre to a would-be buyer for a final look-see. “We’re getting a lot of strong interest from different size users,” he says, careful not to disclose just who is eyeing land for build-to-suit construction.

Markham and Mike Haenel, a Grubb & Ellis senior vice president, represent SunAmerica, based in Century City, CA. Dan Callihan of CB Richard Ellis’ Phoenix office negotiated the acquisition on Richard Jensen’s behalf.

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