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Chandler Warehouses Trade for $75.6M
TA Realty acquired Chandler Airpark 202 — a four-building, 400,000-square-foot industrial park — for $75.6 million. Ares Management, which developed the park alongside US Capital Development, was the seller.
Cushman & Wakefield’s Will Strong, Michael Matchett and Molly Hunt represented the seller in the deal.
Built in 2023, Chandler Airpark 202 comprises four buildings at 1640-1700 Northrop Boulevard. Three of the buildings are 100% leased to two tenants, MEI Rigging and Crating and Wedgewood Pharmacy. The biggest building, a 171,862 industrial space, is fully available for lease. Construction started on Chandler Airpark 202 in August 2022.
Cushman & Wakefield’s Andy Markham, Mike Haenel, and Phil Haenel negotiated the existing leases prior to the sale and have been retained by the new buyer to lease up the park.
The Valley ranks second behind Dallas out of 20 U.S. metros for top distribution and warehouse markets based on its construction pipeline, growth rate, costs and number of airports.
