Cassidy Turley, a leading commercial real estate services provider in the U.S., announced the sale of 6.125 acres of land near the southwest corner of Stearman Drive and Germann Road in Chandler, AZ.
Newport Beach, CA-based Turner Development, dba Turner Real Estate Investments, purchased the property from Los Angeles-based owner Investment 9901, LLC. Cassidy Turley Senior Managing Directors Paul Boyle and Rick Danis and Senior Vice President Pete Klees negotiated the transaction on behalf of the seller and the buyer.
“Turner has proposed plans for six single tenant industrial buildings ranging in size from 12,000 square feet to 24,000 square feet,” Mr. Boyle said. “Each building will feature speculative office build outs, outside fenced storage yards and grade level loading. Four of the six buildings will also have truckwell loading. The entire development will total 98,600 square feet. Anticipated completion date is projected to be second quarter of 2015.”
Turner Real Estate Investments is a construction, finance, development and asset management company active in the industrial, flex and low rise markets in the southwestern United States. Turner’s portfolio currently encompasses approximately 2 million square feet, and they are actively growing the portfolio through both acquisitions and development.