Chandler Office/Industrial Asset Catches EQ Exeter’s Eye

A three-building office and industrial property at the Price Road Corridor in Chandler recently sold to EQ Exeter Property Group for an undisclosed price. EQ Exeter Property Group plans to reposition the existing buildings.

Located at 1890 and 1900 South Price and 3200 West Germann roads, the 241,676-square-foot property is positioned within the Price Road Corridor, a five-square-mile area of Chandler often referred to as the Silicon Desert. This submarket has been the only one in metro Phoenix to report positive absorption for 15 consecutive years and lead the Phoenix office market last year with 230,000 square feet of positive net absorption, according to CBRE research. Results of CBRE’s 2021 Americas Investor Intentions Survey showed the Phoenix market jumped five spots to number four.

Originally a build-to-suit for Amkor Technology, the property features a two-story 41,590-square-foot office building, a three-story 76,398-square-foot office building and a 123,688-square-foot industrial building.

CBRE’s Barry Gabel, Chris Marchildon and Will Mast represented the seller, Digital Realty Trust.

“There are very few 100-percent-vacant value-add office and flex industrial investment opportunities of this size and quality available across metro Phoenix,” said Marchildon. “This former corporate headquarters campus offers a premier location, and an opportunity for the buyer to transform it for future office leasing at a significantly lower cost than a ground-up development.”