Chandler Corporate Center I & II Trade for $22M
Mass Equities has completed its $22 million sale of Chandler Corporate Center I and II, two Class A mid-rise office buildings totaling 136,728 square feet. Cushman & Wakefield represented the property on behalf of the seller to buyer Zeitlin Capital, which had acquired the assets over a single transaction. The purchase is subject to a combined $14 million loan provided by Wells Fargo Bank, according to CommercialEdge information. Zeitlin has operated in Phoenix for over 50 years.
Chandler Corporate Center I and II were constructed in 2008 and 2009 and were the first buildings constructed in the Chandler Corporate Center master plan, which spans six buildings totaling 488,659 square feet, built over 75 acres.
Chandler Corporate Center I spans 68,208 square feet, over two stories and is 71 percent leased to several local tenants.
Chandler Corporate Center II spans 68,520 square feet, built to similar specifications as the first. The building is 85 percent leased to four tenants.
- ◦Sale/Acquisition