PHOENIX—A 69,429-square-foot ex-manufacturing facility and an adjacent 2.97-acre parcel at 1800 S. Price Rd. in Chandler has sold for $12.7 million.
California-based Cohen Asset Management, Inc. purchased the building from Abart Properties Corp. of Scottsdale. Lee & Associates Arizona principals Rick Lee and Andy Ogan represented Cohen. Bret Angner with Nova Management represented Abart in the transaction. The building is fully-leased to Iridium Communications with an estimated 10 years remaining on their lease.
The building is located in Chandler's Price Road Corridor, which is fast becoming the Valley's tech center. The area is served by the Loop 101 and Loop 202 freeways.
Iridium Communications, based in McLean, VA, is a mobile satellite communications company providing voice and data solutions worldwide.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
*May exclude premium content© 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.
