23-Acre Sale Opens Door for $90M Development

CHANDLER, AZ-A partnership between Phoenix-based Biltmore Holdings and LGE Design Build has closed on 22.5 acres to move forward on 101 Chandler, a $90-million plan for 468,000 sf of spec office and restaurant project. Construction is slated to begin in June 2008.

David E. Sellers, president of LGE Design Build of Phoenix, says the former plant of Gould Electronics Inc. has been razed, the platting is in progress and the 2919 Chandler Blvd. land is being readied for 101′s Chandler’s first phase, a 234,000-sf spec office building. “Over the years, what this has become is a premier hard corner,” he explains. “You couldn’t duplicate this land. It’s across the street from Chandler Fashion Mall, which is 1.4 million sf of retail with zero vacancy.” In a three-mile radius, there is a total of 6.5 million sf of retail and scores of residential developments. Additionally, the site has a daily traffic count of 150 vehicles per day and a straight shot onto Loop 101.