On behalf of ViaWest Properties, CBRE recently completed the sale of twin, two-story Class A office buildings in the Chandler Midway Corporate Center located at 5670 and 5710 W. Chandler Blvd. in Chandler, Ariz. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the seller, Phoenix-based ViaWest Group. The buyer was Encino-Calif.-based Kramer-Wilson Company, Inc. Total consideration for the sale was $23.3 million.
“Chandler Midway benefits from exceptional regional access with proximity to Interstate 10, Loop 101 and Loop 202,” said CBRE’s Gabel. “With a strong tenant mix, the property offers premier trophy office space in a dynamic Southeast Valley location.”
“These 100% leased buildings with blue-chip tenant roster demonstrates the strength of Chandler and the health of the overall market,” said Danny Swancey, partner at ViaWest Group. “It’s been a pleasure working with Kramer-Wilson, and we wish them well as they contiue to steward these great assets.”
Constructed in 2007, the 111,800-square-foot, multi-tenant property is currently 100 percent leased to a roster of blue-chip credit tenants. The property features extensive window lines, two-story lobby entries and tenant flexibility to accomodate smaller, regional tenants as well as larger corporate users. Surface and covered parking surrounds the buildings.
“We are excited to add another secure investment property further expanding our Southwestern U.S. portfolio,” said Brian Gibbons with Kramer-Wilson Company. “Chandler Midway will strategically complement our current real estate holdings in the Valley of the Sun.”