January 11, 2021
Denver-based DPC Development acquired The Park at San Tan, a mixed-use business center in Chandler, from Boston-based TA Realty for $65 million. The property includes a five-story office building with a four-level, 608-space parking structure.
The office building comprises 218,596 square feet and was built in 2007 on 6.65 acres. Three retail buildings at the center, totaling 20,139 square feet, were built in 2006 on nearly three acres.
The property is located at 3075, 3111, 3225, 3235 & 3245 W. Ray Rd., near Chandler Fashion Center. The acquisition expands DPC’s Phoenix-area portfolio, which includes the 3200 North Central office property in Phoenix and HUB 317, an industrial facility near Phoenix Sky Harbor International Airport.
Western Alliance Bank provided $46,300,000 in new debt for the deal.
For comments, questions or concerns, please contact Dennis Kaiser
*Photo courtesy Google street view