Silver Creek Development acquires award-winning corporate headquarters facility from Irgens
Cushman & Wakefield announced today the firm has represented both buyer and seller in the sale of Ascend at Chandler Airport Center, a 130,642-square-foot Class A office building located in Chandler (Phoenix), Arizona. The property is 100% leased on a long-term basis and serves as the corporate technology headquarters for a leading technology services company.
Phoenix-based Silver Creek Development acquired the single-tenant investment asset from Irgens for approximately $34.2 million.
Cushman & Wakefield’s Chris Toci and Chad Littell handled the transaction on behalf of both parties. The firm’s Greg Mayer also provided leasing advisory.
“This was an incredible investment offering of a highly unique and desirable award-winning asset providing long-term stable income,” said Chris Toci, Executive Managing Director.
“This modern property features a number of special design elements and on-site amenities created for employee happiness and well-being, including a state-of-the-art indoor town hall meeting space equipped with a large video wall, a fitness facility and cafeteria, a living wall with over 1,000 plants, outdoor seating and patio space, and more. These building features allow for a superior product relative to the competition within the Greater Phoenix market,” remarked Charles Essig of Silver Creek Development.
Located at 1811 E Northrop Blvd, Ascend at Chandler Airport Center is a two-story building situated on nearly 11 acres in the Phoenix Metro area. The property was originally developed in 2016 but soon after underwent significant best-in-class tenant improvements that commenced in 2018. The property was the recipient of numerous awards, including the NAIOP (National Association of Industrial and Office Properties) Best of 2020 award for Office Tenant Improvement Project of the Year (More than 40,000 SF) and the AZ Big Media, 2020 RED Award for Office Interiors Project of the Year.
“We are proud to have been involved in the design and development of this exceptional Chandler-area asset and are confident that Silver Creek Development will be the long-haul beneficiary of these extraordinary improvements and the tenant’s affection for this asset,” commented Duane Nolde, Executive Vice President, Real Estate Finance at Irgens.
Additional property highlights also include large, open floor plates, impressive ceiling heights, and a more than 6/1000 parking ratio. The location is also conveniently near the SR 202 freeway, the Chandler Municipal Airport and proximate to the Phoenix Sky Harbor International Airport. The property is also near an abundance of amenities including major shopping, retail, dining and other services destinations.