Press Release

CBRE Arranges $7.76 Million Sale of Chandler Office Center

2021 12월 21

CBRE announced the sale of Chandler Office Center to 1351 Piedmont, LLC, a Delaware limited liability company, for $7.76 million.

CBRE’s Bob Young, Glenn Smigiel, Rick Abraham and Jamie Swirtz represented the seller. Steve Berghoff and Mary Larsen of Menlo Group represented the buyer.

Chandler Office Center, located at 1331, 1347 & 1351 N. Alma School Road in Chandler, is a three-building, 57,302 square-foot property. The property, which has undergone recent renovations, is 84 percent occupied, including by such tenants as Orthopedic Specialists of North America, Arizona’s Children Association and Vocational Development Group, LLC.

“We had strong interest from numerous buyers,” said Young. “Chandler Office Center fits neatly into an under-represented gap in this market. Most of the surrounding office properties are either Class A properties that command very high rents or properties at the other end of the spectrum. Chandler Office Center sits in between, offering tenants affordability with great amenities.”

Chandler has been evolving into an attractive business center due to lower city sales and corporate income taxes and a low state regulatory environment. The immediate area surrounding Chandler Office Center is experiencing an infusion of new concepts and investment capital. An urgent care facility currently under construction and a new ground-up surgicenter in the approval stages will both be located immediately adjacent to the property.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.