Trammell Crow Company, one of the nation’s leading developers and investors in commercial real estate, and Prudential Real Estate Investors today announced an agreement to form a joint venture to develop a Class A, speculative office campus featuring two, two-story buildings totaling 210,000 square feet in Chandler, Ariz. PREI, among the world’s largest real estate investment management and advisory businesses, is a business of Prudential Financial, Inc. (NYSE: PRU).
The project, known as “Mach One,” is located on 19 acres at the southeast corner of Loop 202 and Cooper Road near the Chandler Municipal Airport. The site has frontage along the Loop 202 freeway and Cooper Road and is directly adjacent to more than one million square feet of retail amenities. Construction is scheduled to commence in early 2015.
“We are very excited to announce plans for Mach One, and more importantly to be able to deliver this Class A office campus—in a single phase—into a market with significant demand for this product type,” said Jim Mahoney, Senior Managing Director with Trammell Crow Company’s Phoenix Business Unit. “This new office park is adjacent to an abundance of amenities including retail, restaurants and entertainment, and features best-in-class design in a great location for a variety of users.”
Mach One will include two 105,000 square foot office buildings featuring centrally loaded plates with chevron layout, 6.5 per 1,000 parking ratio, 16-foot floor-to-floor heights, and 12-foot finished ceiling capability. Tenants will enjoy a variety of amenities including covered parking areas, shaded outdoor seating, and large windows that provide abundant natural lighting. Each building will incorporate open workspaces and functional lobbies to provide seating and space for collaboration.
Butler Design Group will serve as lead architect, Willmeng Construction Company as the general contractor and Alliance Bank of Arizona is the lender. Bryan Taute and Charlie Von Arentschildt of CBRE Phoenix will handle leasing and marketing.