VanTrust buys 20 acres for $12.2M in Chandler
With development plans already underway for major projects in both the East and West Valleys, VanTrust Real Estate, LLC, Phoenix recently acquired 20-acres of land for $12.2 million from the Rockefeller Group, New York City, at Chandler Boulevard and the Loop 101 to build a mixed-use development with office, hotel and retail.
It marks the latest development opportunity for VanTrust in the Valley and its continued momentum throughout the Arizona market in the last year, which consists of projects for industrial, multifamily and office space.
“The site is surrounded by an incredible amount of amenities, and offers convenient access to the entire Valley. The completion of the Loop 202 will further enhance this strategic location. We are also enthusiastic about continuing our partnership with the City of Chandler,” said Keith Earnest, executive vice president of VanTrust.
Located at the Loop 101 and Chandler Boulevard, this latest 20-acre land purchase follows the recent completion of the 117,000-square-foot Chandler Corporate Center at 350 N. McClintock Drive, which is also adjacent to Chandler Fashion Square with convenient access to the entire East Valley. VanTrust plans to break ground on the second phase of Chandler Corporate Center soon.
Just in this last year, the Phoenix-based office of VanTrust also developed Peak 16, a 230-unit multifamily complex in Phoenix already more than 50-percent leased, while continuing the development of over five-million square feet of state-of-the-art fulfillment and distribution buildings in Southern Nevada.
By early next year, VanTrust plans to start developing a 600,000-square-foot cross dock facility at Van Buren Street and Perryville Road in Buckeye.
For more information on the projects, visit www.vantrustre.com.