Irgens has acquired 31 acres of improved development-ready land located at the northwest corner of Cooper Road and Germann Road, just south of the San Tan 202 Loop freeway. The site, in the heart of the Chandler Airport Center, named Ascend at Chandler Airport Center calls for nearly 400,000 square feet of Class A office and flex space when fully built-out. The ownership entity, Chandler Development Partners, LLC, (sponsored by Irgens) closed on the transaction on Oct. 15, 2013, their second in the Chandler market in 2013.
“With its premier location in one of the Valley’s most active business corridors, connectivity to the region, and progressive design concepts, Ascend at Chandler Airport Center is a lead competitor for the region’s next corporate headquarters and presents a high-profile opportunity for build-to-suit corporate users in the Southeast Valley.” said Jason Meszaros, Vice President and Arizona Market Manager for Irgens.
Ascend at Chandler Airport Center is poised to capitalize on the rapidly recovering and expanding Phoenix market. Ideally situated in the leading business-oriented community of Chandler, recent and notable corporate relocations and expansions include: Intel, GM (new Regional IT Innovation Center), Garmin, Wells Fargo, ASML, OnTrac and InfusionSoft.
Ascend at Chandler Airport Center
The strong physical condition of the site reduces future improvement costs and allows for quicker than average building delivery timelines due to its existing infrastructure and grading. The site will include nearly 400,000 square feet of build-to-suit, Class A office and flex space, highly accessible location just off Loop 202 offering connectivity to entire Valley, and technology-driven design for cutting edge IT capabilities with existing utility infrastructure and power source redundancy to the site. Additionally, the property will feature energy-efficient design and construction promoting lower energy consumption, prominent freeway pylon and building signage corporate identity opportunities available with a diverse mix of retail, hotel and corporate users nearby.
Steve Kohls and Adam Tolson, Principals with Lee & Associates’ Phoenix office, advised Irgens on the acquisition.
“Between the continuous operational expansions by existing space users and several new build-to-suit project commitments from incoming employers, the large blocks of Class A office space have become essentially non-existent in Chandler,” said Kohls. “Ascend at Chandler Airport Center will provide a perfectly-timed opportunity for designing and building modern business environments at a price-point that will be extremely competitive within the marketplace.”
Joining Kohls and Tolson, Bill Blake and Colton Trauter, also Principals with the firm, will serve as the marketing team and listing brokers for the project. Irgens continues to actively seek strategic land and building acquisitions to add to its growing portfolio of commercial and medical offices in the greater Phoenix metropolitan market.