Chandler Elliot Partners LLC, an investment partnership headed by Jim Harrison of Harrison Properties, purchased a 12.8-acre commercial land site at Arizona Avenue and Elliot Road in Chandler.
Chandler Elliot Partners plans to construct and develop a 80,000 square-foot office building pre-leased to the Arizona Department of Economic Security.
The all-cash transaction totalled $3,647,692. Escrow closed on February 26, 2016.
Lee & Associates Principal Rick Robertson represented both Harrison Properties and the seller, Pollack Business Park South LLC, an investment partnership headed by East Valley real estate developer, Michael A. Pollack. The property consists of lots 1 through 9 of the Pollack Business Park South.
The new concrete tilt construction building will feature 550-car parking and was a fast track design/build project by Sun State Builders.
Site work on the fully-improved, (I-1, PAD-zoned) parcel has already begun. The Department of Economic Security signed a long-term lease and it is anticipated that 400 employees will work in the new building when construction is completed in August 2016.
