$200M MXD in AZ Breaks Ground

CHANDLER, AZ-A little more than two years after buying 20 acres for a mixed-use project, Lees Mayfield Associates has broken ground on the first phase of the $200-million Chandler Echelon. The 190,000-sf class A office building’s all-in development tab is estimated at $25 million.

Within one year, the class A building will be joined by two hotels totaling 260 rooms, a second office building and several pad sites for up to 15,000 sf of retail space on the Loop 202-Price Road land. Lees Mayfield has teamed with Indianapolis-based REI Investments, White Lodging Services of Merrillville, IN and Poe Cos. of Louisville, KY to complete the mixed-use project.

Bob Mayfield, principal with the Scottsdale, AZ-based development firm, says the office building, dubbed Chandler Echelon I, is expected to come on line in late 2008. The second office building, a 190,000-sf twin, is scheduled to begin construction in about a year, he adds.