Chandler Viridian signs NovaSource to large office lease
Hines, the international real estate firm, has reached an agreement with NovaSource Power Services on a large new office space in its Chandler Viridian development.
NovaSource is relocating from its current Tempe office and will lease a 14,738 SF space on the office building’s 5th floor. NovaSource is one of several companies that have announced relocation plans to the Chandler development in the past few months, creating a significant amount of leasing momentum for the project.
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NovaSource provides operation and maintenance services to companies that have significant renewable energy assets, such as large solar panels, or energy companies that have solar farms.
Chandler Viridian is a premier mixed-use development integrating residential, Class A Office, hospitality and retail developments located at the Intersection of Loop 101 and San Tan Loop 202 in Chandler. The project boasts exceptional access to local freeways and significant nearby restaurants and amenities, including Chandler Fashion Square. The project was named Mixed Use Project of the Year and Spec Office Building of the Year in the Best of NAIOP Awards in 2019.
“We were very impressed with the onsite amenities, building quality and design and strong ownership at Chandler Viridian,” said Troy Lauterbach, President of NovaSource Power Services. “The project will provide an exceptional environment for our employees and an ideal base for our company’s future growth.”
Chandler Viridian provides a number of attractive features to prospective office tenants, including best-in-class property management, modern design and architecture, exceptional common spaces and open areas, onsite restaurants and a hotel, and significant other amenities within walking distance of the property.
“We are pleased to welcome NovaSource Power Services to the Chandler Viridian development,” said Brandon Dillingham, managing director for Hines. “They are an innovative company in a dynamic industry with extensive growth potential, and we’re confident their new offices at Chandler Viridian will positively impact the company’s expansion.”
Hines also recently leased two of four high-end spec suites that were specifically built out at Chandler Viridian to provide potential tenants with an immediately available modern, state-of-the-art office environment at the dynamic mixed-use project in Chandler.
Michael White from Studley represented NovaSource in the transaction. The leasing team that represented Hines in the transaction was Jerry Roberts, Executive Managing Director, and Pat Boyle, Managing Director, with Cushman and Wakefield in Phoenix.
“Chandler Viridian is seeing a significant amount of leasing activity despite the challenging dynamics in the office marketplace,” Roberts said. “Our team will continue to work with innovative, entrepreneurial companies like NovaSource that are looking for an exceptional office environment with abundant nearby amenities.”
“This deal with NovaSource has been in the marking for some time,” Boyle said. “The negotiation process was a true collaboration between landlord, tenant and the brokers. We appreciate everyone’s diligent work in finalizing the deal and want to thank Michael White for bringing this deal to Chandler Viridian. We are gaining significant momentum at the project and look forward to adding NovaSource to our growing roster of tenants.”