January 31, 2013

AZRE

CBRE Completes $15M Sale of Chandler Airport Center II

 

CBRE completed the $15M sale of phase II at Chandler Airport Center, a 2-story, Class A multi-tenant office building at 1750 E. Northrop Blvd.

Jim Fijan of CBRE’s Phoenix office represented the seller, The Picerne Group of San Juan Capistrano, Calif., in structuring the sale. The buyer was Redstone Chandler II LLC of Surrey, British Columbia, Canada.

“The area’s real estate market has benefited from the flow of cross-border capital, specifically from Canada,” Fijan said. “With a healthy supply of well-priced, quality assets in metro Phoenix, I would suspect the trend will continue into the new year.”

Located on the SWC of the Loop 202 and Chandler Road, the 90,911 SF Chandler Airport Center II sits in the heart of the Southeast Valley, offering convenient access to the area’s connected freeway system, well-educated workforce and abundant nearby amenities.

Built in 2008, Chandler Airport Center II was 91% occupied at the time of sale. Its tenant list includes Marvell Semiconductor, Ascend Learning, Academy Mortgage and Soilworks.