TA Realty buys Parc Germann industrial development in Chandler

Real Estate | 7 Oct |

Jackson-Shaw, LaPour Partners, and JLL announced the sale of Parc Germann, a new 224,471-square-foot, two-building urban industrial development in Chandler, Arizona, to TA Realty LLC.

Situated on 16 acres in the Chandler Airport Center fronting Germann Road, Parc Germann is strategically located in the Chandler submarket and offers excellent access to all areas of the valley via Loop 202 and is only minutes from Loop 101 and Interstate 10 and less than 30 minutes away from Sky Harbor International Airport. The two-building development can accommodate a wide range of users and offers modern facility features including 28-foot clear heights, a front-loaded building featuring true dock high space, a full concrete truck court and outside storage.

Delivered earlier this month, the project was 31% leased at the time of the sale. Adept Life Sciences, an industry leader in contract manufacturing of nutraceutical products, occupies 69,940 square feet in Building A, which is approximately 92,261 square feet.

“Parc Germann is a significant development that directly responds to the demand for quality, Class A urban industrial space in this market,” said Jackson-Shaw President and Chief Operating Officer Michele Wheeler. “Our excellent relationship with LaPour Partners and JLL has ensured the smooth delivery and sale of an exceptional state-of-the-art industrial development for future tenants.”

JLL in Los Angeles brokered the sale and Cushman Wakefield will lead property management. “This sale is a testament to the continuing appeal of the Southeast Valley, which has access to one of the best labor pools in the Phoenix area along with quality housing and amenities,” said LaPour Partners President Jeff LaPour. “It was a pleasure to work with TA Realty Advisors. Their unparalleled insight into local markets and ability to build strong local relationships makes them an excellent fit for this opportunity.”

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