Tryperion Partners Purchases Five-Story Chandler Office Center

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The Chandler Office Center near the southeast corner of Arizona Avenue and Buffalo Street sold to Typerion Partners last week for $17 million, or $163 per square foot. The asset was purchased from Travelers Insurance Companies with no debt recorded.

±104,500 square feet of office space makes up the five-story Chandler Office Center, which was built in 1998 on two and a quarter acres. It includes a 608-space parking garage to the northeast, and is within walking distance of the Chandler Community Center and Chandler Downtown Library.

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“Willis and Arizona Avenue Corporate Park” Development Underway

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The ±64,245 square foot “Willis and Arizona Avenue Corporate Park” industrial flex project is currently being constructed just east of the Willis Road / Arizona Avenue intersection. The 10.55 acres of land and partially finished improvements were sold July 17th to Greenwood & McKenzie for just over $12 million. Greenwood & McKenzie financed the sale with an assumption of an existing construction loan with Western Alliance Bank with a current balance of $7,892,621. A schedule within the loan assumption agreement confirms that $1.58m of the remaining loan is planned for additional construction and tenant improvements.

Signage at the construction site states that the corporate park will be “available summer 2015” with “office/warehouse suites from 4,479 SF & up”.

Photo from development site dated 7/20
(Image is property of Vizzda LLC)

For more information on this property including complete land history and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!