PHOENIX—Capital markets experts in the Phoenix office of JLL have completed the $13.91 million sale of Chandler Corporate Center I, a 67,561-square-foot Class A office property in Chandler. The sale price breaks the $200-per-square-foot mark for suburban office space—a significant indicator according to JLL.

JLL senior managing director Dennis Desmond represented the property seller, Chandler HFP, LLC, an affiliated entity of Held Properties, a California real estate development firm. Palisades Capital Realty Advisors is the property buyer. JLL managing director Dave Seeger serves as the project's exclusive leasing broker and partnered with Desmond to market the property for sale.

“This building came out of the ground in 2008 and has outperformed the Phoenix and Chandler markets ever since,” says Desmond. “This includes through the toughest office market recession we've ever experienced. That is evidence of the strength of the Chandler market and was a tremendous draw for investors looking for stable acquisition properties located in high-growth markets.”