Norte at Chandler, an 85,797-square-foot, multi-tenant Class A flex office building in Chandler (Phoenix), Arizona was recently sold to Unite Realty MTA for $17.2 million, or $200 a square foot. The asset consists of a freestanding single-story office building that is 70% leased to two investment-grade tenants. approximately $200 per square foot.

A Cushman & Wakefield team led by Eric Wichterman represented the institutional seller in the transaction. “With its Southeast Valley location and exceptional quality, Norte at Chandler is positioned to perform well long-term. The vacant space in the property was recently built out into a move-in-ready, stunning spec suite with creative finishes. Several tenant prospects showed interest in the space during the sale process and we expect it to lease in short order,” said Wichterman.

Norte at Chandler was built in 2016 and is situated on nearly 8 acres. Its two existing tenants consist of Enterprise Holdings, the world’s largest car rental company, and a Fortune 500 semiconductor firm.