Chandler Airpark Business Center LLC of Rancho Santa Fe, CA plans to build about 235,000 sf of office, industrial and hangar space on property at East Queen Creek and South Cooper roads near Chandler Municipal Airport. "These closed at the same time and the lots are contiguous," says Paul Sieczkowski of Colliers International's Phoenix office, who with Rob Martensen, represented the buyer in both off-market transactions.
The Colliers brokers also represented one of the sellers, Eder Family Trust, which parted with five acres for $1.36 million. Brokering the 15-acre hand-off was Kevin Peterson of Peterson Properties & Management in Queen Creek, who represented Airpark Associates LLC from Tempe.
Sieczkowski tells GlobeSt.com that Chandler Airpark Business Center will have about 60,000 sf for office condominiums; 90,000 sf of hangar space with office components as for sale or lease product; and 85,000 sf for general industrial facilities. Delivery is targeted for mid-2007.
Colliers' Phoenix office is overseeing leasing and sales activities. "We may sub out the office condos to someone else," Sieczkowski adds.
Plans and renderings are being developed by Scottsdale's Patrick Hayes Architecture Inc. The general contractor has yet to be hired.
Though it's very early in the game for preleasing and sales activities, Sieczkowski believes the demand is strong for this type of project. "Stellar Airpark, about five miles west of this site, is already full," he says. "We think there's a real need for this type of product."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
