June 14, 2018
Rosemont, IL-based Conor Commercial Real Estate and Chicago-based WHI Real Estate Partners L.P. commenced construction on the $45-million Lotus Project in Chandler, AZ. The mixed-use development consists of more than 650,000 square feet of Class A industrial and office space and is located directly off the Loop 202 freeway and Kyrene Road.
Conor’s Sven Tustin says, “The highly-desirable infill location within the [Phoenix] Southeast Valley submarket, coupled with the low vacancy and influx of businesses expanding or relocating to the Chandler area, makes this an exciting development.”
Conor/WHI will develop Phase I on a speculative basis, which includes four industrial buildings totaling 470,000 square feet. Phase II will consist of either two office buildings totaling 200,000 square feet or three industrial buildings totaling 216,000 square feet. Construction on Phase I is planned to begin in September 2018, with completion slated for September 2019.
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