Roughly six months after being initiated, a joint venture to secure the acquisition of Chandler Airpark is complete. Oxford Properties Group and EverWest Real Estate Investors have recently closed a deal for $26.34 million, which further closes the total deal of $46.34 million.
The “done deal” completes the venture’s acquisition of a three-building, 261,940-square-foot, Kitchell-built Class A industrial portfolio that was recently completed and delivered in Chandler, Ariz., according to a news release, including:
Collectively, the acquisitions follow the joint venture’s objective to acquire and develop approximately $1 billion (gross asset value) of core-plus and value-add light industrial project in major U.S. growth markets.
Chandler Airpark comprises 148,830 square feet in two buildings totaling 82,119 square feet and 66,711 square feet, respectively. Each building features 28’ clear height, dock-high and ground-level loading positions, concrete truck courts, and generous power and parking.
Chandler Airpark and 800 East Germann are located along East Germann Road, minutes from Chandler Municipal Airport and within one mile of Loop 202, offering quick access to two full-diamond interchanges and the market’s highly skilled labor pool.