Phoenix, Arizona – Hines, the international real estate firm, announced today that its award-winning Offices at Chandler Viridian has recently signed a new long-term lease for Oaktree Funding Corp.
Oaktree Funding Corp., a rapidly growing wholesale mortgage lender based in California, is significantly expanding its space and operational capacity from a smaller office in Chandler, AZ. Oaktree Funding Corp. expects to occupy its new space in Q2 2020.
“Oaktree Funding Corp. is proud to call the Offices at Chandler Viridian our new home,” said Kristopher Martin, executive vice president with Oaktree Funding Corp. “The convenience of the location near Loop 101 and Loop 202 and the available amenities such as retail and a hotel made the Offices at Chandler Viridian the ideal decision for us. We have experienced unprecedented growth over the last couple of years and our long-term commitment to this space will allow us the room to facilitate our exponential growth for many years to come.”
Stantec—a global engineering, architecture and consulting firm—which currently occupies 22% of the Offices at Chandler Viridian, is expanding its space to occupy 25% of the building. Other tenants include Workuity, a coworking firm, and ClearChoice, a dental implant company. The nearby Chandler Viridian PRIMEGATE’s retail offerings include Panera Bread, Sicilian Butcher, Thirsty Lion and Charles Schwab.
“Hines has made a significant long-term investment at Chandler Viridian. More than the quality of the building, it is the tenants that make the Offices at Chandler Viridian truly special,” said Chris Anderson, senior managing director and Arizona leader for Hines. “Hines is thrilled to welcome Oaktree Funding Corp. to our tenant family and we plan to serve as a solid partner as their business grows.”
The Offices at Chandler Viridian, which opened in January 2019, is the tallest multi-tenant office building in Chandler. The six-story, Class A office building with 252,418 square feet of leasable space is located at the intersection of Loop 101 and Loop 202 near the Chandler Fashion Center. The building features a large, open floorplan with 10-foot tall ceilings, a lounge and a large courtyard. Hines developed the project in a joint venture agreement with New York Life Real Estate Investors, on behalf of its institutional client.
The office building is the capstone to the Chandler Viridian mixed-use project. In 2014, Hines razed Elevation Chandler, an unfinished structure and local eyesore at the site, and launched the mixed-use project. The Offices at Chandler Viridian is integrated into the Chandler Viridian master plan development, a 25-acre mixed-use project which also includes the 140-room Cambria hotel & suites, 330-unit Broadstone Fashion Center luxury apartments, sophisticated retail offerings at Chandler Viridian PRIMEGATE and a pedestrian promenade to the Chandler Fashion Center mall. Also featured in the master plan is a dog park, ¾-mile jogging trail connecting all of the properties, and a large public plaza with high-speed Internet and Wi-Fi – all to enhance the pedestrian experience.
Chandler Viridian won Mixed-Use Project of the Year and Speculative Office of the Year at the 2019 Best of NAIOP Arizona Awards.
The Cushman & Wakefield team of Jerry Roberts and Pat Boyle represented Hines in the Oaktree lease.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.