Morgan Stanley Affiliate Pays $59M for Chandler Honeywell Aerospace Plant

A Morgan Stanley affiliate paid $59 million for a nearly 200,000-square-foot building in Chandler where Honeywell Aerospace has been a tenant since 2020. The industrial park, Amplify Chandler, was sold by Phoenix Rising Investments.

JLL brokers Ben Geelan and Greer Oliver represented the seller.

The Phoenix Business Journal reports Morgan Stanley Real Estate Investing was interested in the site because of its infill location, proximity to a strong manufacturing base, power infrastructure and credit tenants.

Phoenix Rising Investments acquired the building in 2019. Honeywell moved in the following year, in April 2020. 

Since acquiring the site, Honeywell have invested roughly $150 million in renovations and expansions over the years, turning a former empty back-office building into a site for advanced manufacturing. A 40,000-square-foot expansion project was completed last year. The general contractor for that project was Willmeng Construction Inc., and the architect was Cawley Architects.

Honeywell Aerospace has at least another nine years remaining on its Chandler lease.

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