CBRE Completes $19.5M Sale of Orbital Sciences Building in Chandler
CBRE has completed the $19.5M sale of an 83,183 SF, 3-story office building and two-level parking garage located at 3377 S. Price Road in Chandler.
The property is 100% leased to Orbital Sciences, one of the world’s leading space technology companies.
Barry Gabel and Mindy Korth of CBRE’s Phoenix office represented the seller, Gilbane Development Company of Providence, R.I., in negotiating the sale. The buyer, Paramount International LLC of Edmonton, Alberta, Canada, was represented by Tivon Moffitt of Colliers International, also in Phoenix.
“Gilbane developed a high-tech, Class A office property for one of the world’s leading space technology companies. Paramount International recognized the quality of the tenancy, the building as well as the location and believes in the long-term, intrinsic value of Chandler and the Price Corridor,” Gabel said.
Located within the Price Corridor, home to numerous research, technology and financial services firms, the Class A office building was built specifically for Orbital Sciences and sits directly across from its 40-acre regional manufacturing, research and development campus.
Its high-tech look features blue-tinted glass curtain walls with bright red accents and well-appointed interior finishes. The building was also designed to LEED Silver-level specifications, with the final certification pending.