Chandler Business Center Sells for $19.1M

Commercial Properties, Inc.

Commercial Properties, Inc./CORFAC International, Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the investment sale of Chandler Business Center, a ±106,892 square foot, industrial/flex, multi-tenant property on a 10.63-acre site. ScanlanKemperBard purchased the property for $19,100,000 / $178.68 per square foot. Located at 6150 W Chandler Boulevard, the property has frontage on Kyrene Road and Chandler Boulevard, which feeds directly to Loop 101, 202, and I-10 Freeways.

The Leroy Breinholt Team with Commercial Properties, Inc., represented the seller, Fullerton Properties, Inc., and the buyer, ScanlanKemperBard, a privately held investment group out of Portland, Oregon.

“This flexible, light distribution property is situated within the growing technology hub in the Southeast Valley and offered a neighborhood center atmosphere with numerous amenities, along with a lower investment basis, compared to the costs of new construction, which made this a highly sought after asset,” said Leroy Breinholt.

Cori Sposi, of the Leroy Breinholt Team, stated, “When we took over the leasing assignment the property was 48% occupied. We helped Fullerton Properties take this property to 100% fully leased and I believe delivering those results, along with our team’s knowledge and the number of deals we’ve completed in the area, positioned us well to help sell the project.”

David Bean, also on the Leroy Breinholt Team, added, “Fullerton Properties was very pleased with how we handled this transaction. Frank Eagan said, and I quote, “This was one of the most complicated, yet smoothest transactions we’ve ever had.” CPI’s proactive approach, positive attitude, and marketing strategy ultimately led to the successful sale and continuation of the leasing contract with the new ownership at this amazing property.

Established in 1981, Commercial Properties Inc. (CPI) is a full-service brokerage and property management firm for all product types of commercial real estate. Headquartered in Tempe, the company has more than 65 brokers and is operating throughout the Phoenix metropolitan area. Currently, CPI’s listings include over 21.6 million square feet for sale/lease with more than 207 projects and associations under management, totaling over 13.2 million square feet.

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