News Summary
Chandler, Arizona, is witnessing a significant boost in its industrial sector with Unbound Development’s recent acquisition of a 100,000-square-foot property for $14.05 million. The site, located at 165 South Price Road, spans 16.7 acres and was previously owned by Rogers Corporation. Plans for extensive renovations are set to modernize the facility, accommodating the evolving demands of businesses. With its strategic location and impressive power capabilities, this development promises to enhance Chandler’s economic landscape and attract new industries.
Chandler’s Industrial Scene Heats Up with Major Property Acquisition!
Exciting news is buzzing around Chandler, Arizona, as the city welcomes a significant addition to its industrial landscape. In a recent transaction, Unbound Development, based in Phoenix, has acquired a sprawling 100,000-square-foot industrial building located at 165 South Price Road. This acquisition was finalized for a cool $14.05 million, showing just how desirable this area is becoming for industrial operations.
A Little Background on the Property
This industrial gem sits on a vast 16.7-acre lot. Interestingly, the building was unoccupied at the time of the sale, which opens up lots of possibilities for renewal and growth. The previous owner was Rogers Corporation, a name that’s had its fair share of presence in the industrial sector. The property was expertly represented by Cushman & Wakefield professionals, with Joshua Wyss and Steven Mardian handling the seller’s side of the deal, while Michael Kitlica took the lead for Unbound Development.
Plans for Renovation
Unbound Development isn’t just going to sit back and let this property gather dust. Plans are already in place for extensive renovations to modernize the space and cater to the needs of today’s occupiers. With the industrial landscape constantly evolving, these improvements will help attract businesses looking for top-of-the-line facilities. And the excitement doesn’t end there! After the renovations are complete, Cushman & Wakefield will also handle marketing for the property, either for sale or lease, highlighting its upgraded features to potential tenants.
A Property with Plenty of Power
Originally built back in 1982 and expanded in 2005, this building comes with some impressive technical capabilities. It offers heavy power capabilities, boasting 8,400 amps of power that can even be expanded to a whopping 150 megawatts. This kind of power supply is a significant draw for businesses that require substantial energy infrastructures, like manufacturing and logistics firms.
A Prime Location
Location, location, location! This industrial property enjoys a prime position with Loop 101 freeway frontage and is conveniently located near the intersection of Loops 101 and 202. This makes it incredibly accessible for companies looking to transport goods or provide services across the region. Plus, it’s surrounded by a wealth of major office and industrial employers, placing it right in the thick of economic activity.
For those looking to balance work and play, residents and employees will also find themselves just a stone’s throw away from retail amenities. The Chandler Fashion Center and Chandler Festival are both nearby, providing ample opportunities for shopping, dining, and entertainment after a hard day’s work.
What This Means for Chandler
This acquisition and upcoming renovations signal a booming future for Chandler’s industrial market. With Unbound Development’s commitment to enhancing the property and drawing in future occupants, it’s likely we’ll see a positive ripple effect throughout the area’s economy. As industries continue to thrive in Chandler, the community may reap rewards in job creation, increased commerce, and improved infrastructure.
All in all, this is a truly exciting time for Chandler, Arizona! As the industrial sector continues to flourish, everyone will be watching to see how this revamped property plays into the bigger economic picture.
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Additional Resources
- AZ Big Media: Libitzky Property Companies Buys Parc Germann in Chandler
- Commercial Search: TA Realty Sells Phoenix Industrial Asset
- CoStar: Midway Commerce Center Sells in Chandler, Arizona
- ReBusiness Online: EastGroup Properties Buys 519,112 SF Akimel Gateway Industrial Facility in Chandler, Arizona
- Chandler News: New Business Park Begins to Take Shape in Chandler
- Wikipedia: Chandler, Arizona
- Google Search: Chandler Arizona Real Estate
- Google Scholar: Chandler Arizona Industrial Market
- Encyclopedia Britannica: Chandler
- Google News: Chandler Arizona News
