Commercial Properties, Inc./CORFAC International (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the investment sale of Chandler Business Center, a ±106,892 square foot, industrial/flex, multi-tenant property on a 10.63-acre site.
Located at 6150 W Chandler Boulevard, the property has frontage on Kyrene Road and Chandler Boulevard, which feeds directly to Loop 101, 202, and I-10 Freeways.
The Leroy Breinholt Team with Commercial Properties, Inc., represented the seller, Fullerton Properties, Inc., and the buyer, ScanlanKemperBard, a privately held investment group out of Portland, Oregon.
“This flexible, light distribution property is situated within the growing technology hub in the Southeast Valley and offered a neighborhood center atmosphere with numerous amenities, along with a lower investment basis, compared to the costs of new construction, which made this a highly sought after asset,” said Leroy Breinholt.
Cori Sposi, of the Leroy Breinholt Team, stated, “When we took over the leasing assignment the property was 48% occupied. We helped Fullerton Properties take this property to 100% fully leased and I believe delivering those results, along with our team’s knowledge and the number of deals we’ve completed in the area, positioned us well to help sell the project.”
David Bean, also on the Leroy Breinholt Team, added, “Fullerton Properties was very pleased with how we handled this transaction. Frank Eagan said, and I quote, “This was one of the most complicated, yet smoothest transactions we’ve ever had.” CPI’s proactive approach, positive attitude, and marketing strategy ultimately led to the successful sale and continuation of the leasing contract with the new ownership at this amazing property.
ScanlanKemperBard purchased the property for $19,100,000 / $178.68 per square foot.
For additional information, please contact Leroy Breinholt, David Bean, and Cory Sposi at firstname.lastname@example.org and 480.966.6593 or email@example.com and 480.214.1105 or firstname.lastname@example.org at 480.621.4025.