July 19, 2019
Montana Avenue Capital Partners sold Chandler Business Center, a 129,840-square-foot, creative office, flex-tech and retail space, in Chandler, AZ. The California seller walked away from the transaction with Fullerton Properties Inc. of New York with $13.3 million. Glenn Smigiel, Bob Young, Steve Brabant, Rick Abraham, Mark Krison and Jackie Orcutt represented the seller.
Located at 6150 and 6170 W. Chandler Blvd., Chandler Business Center is a value-add, two-building mixed-use complex that is 54% leased. Tenants at the 17-year-old property include New Heights Church, Advance Auto Parts, Newark Corporation and Children’s Cancer Network.
“With Chandler Business Center, we were able to leverage the property’s long-term appeal and location in one of the highest-growth areas in metro Phoenix,” Smigiel said. “The property requires very little remedial work, allowing the buyer to immediately lease up the remaining space to a variety of tenants, including flex office, creative office and retail users.”
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