Wednesday, February 26, 2014

Southwest Value Partners Buys 109.69 Acres in Chandler's Price Corridor

Vizzda -- 2/25/2014 -- Justin Merritt for San Diego-based Southwest Value Partners (SWVP) has purchased a 463,658 square foot industrial engineering facility along with 81.07 acres of land in the Continuum business and technology campus in Chandler, once owned and occupied by Motorola. The property sold for $51.750m and there was $41m in new debt issued to SWVP by US Bank. The purchase by SWVP assembles 114.80 acres of land ready for development in Chandler's Price Corridor.

Southwest Value Partners purchased all of the Continuum project, except for the Cyrus One data center on lot 3, assembling143.42 acres of contiguous land in Chandler.
The industrial engineering facility on the site totals 463,658 square feet, or 403,300 rentable square feet, was built in 1985 on a 28.63 acre lot. Current tenants for this building include Ontrac, Nationstar Mortgage, and Express Messenger Service. Ontrac having just built a 55k square foot call center that completed November 22nd, 2013. The remaining 81.07 acres are broken up between five lots, ranging from 3.82 to 30.21 acres

The Continuum business campus is a mile and a half south of the Loops-101 & 202 freeway interchange in the Chandler Price Corridor. The industrial engineering facility is located at 2501 S Price Rd. The campus has a nitrogen pipeline and dedicated SRP substation that is capable of providing 14 megawatts of electric power.

Capital Commercial Investments previously acquired the land for Continuum (150.39 gross acres) from Motorola on July 27th, 2009 for $18.5m or $123,011 per acre. The Continuum project was platted on August 25th, 2011. Capital Commercial Investments sold lot three (northeast 39.89 acres) to Cyrus One on September 6th, 2011 for $12,198,955 or $39.89 per acre. Cyrus One built a 919,166 square foot data center on the site in 2012. In the subject sale,  Capital Commercial Investments sold the property to SWVP pursuant to a sale agreement dated December 11th, 2013.


Daniel Alpers
Director of Civil & Municipal Projects

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