Thursday, January 19, 2023 / by Juan Grimaldo
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An 85,797-square-foot flex office building in Chandler has traded hands.
Brokerage firm Cushman & Wakefield announced Norte at Chandler was sold to Mesa-based United Realty MTA for $17.2 million, or roughly $200 per square foot. The office building is approximately 70% leased with Enterprise Fleet Management and Analog Devices Inc. being two of the tenants operating out the space.
Eric Wichterman, Mike Coover, Steve Lindley, and Alexandra Loye with Cushman & Wakefield’s private capital and capital markets teams in Phoenix represented the seller. Maricopa County Assessor's Office lists Alidade Chandler CC IV LLC as the owner of the property, which is an entity connected to Michigan-based Alidade Capital.
"With its Southeast Valley location and exceptional quality, Norte at Chandler is positioned to perform well long-term. The vacant space in the property was recently built out into a move-in-ready, stunning spec suite with creative finishes. Several tenant prospects showed interest in the space during the sale process and we expect it to lease in short order,” Wichterman said in a statement.
Located at 4100 W. Galveston St., the class A building was built in 2016 and sits on about 8 acres.
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By Ron Davis & Angela Gonzales - Phoenix Business Journal