TA Realty has acquired Chandler Airpark 202, a large industrial park consisting of four buildings totaling 400,000 square feet. The purchase price for the park was $75.6 million and the seller was Ares Management, who developed the park in partnership with US Capital Development.
Representing the seller in this transaction were Will Strong, Michael Matchett and Molly Hunt from Cushman & Wakefield. Located at 1640-1700 Northrop Boulevard and built in 2023, Chandler Airpark 202 is home to three fully leased buildings occupied by MEI Rigging and Crating as well as Wedgewood Pharmacy. The fourth building offers a spacious industrial space of over 171,000 square feet that is currently available for lease. Construction on Chandler Airpark began in August of last year.
Cushman & Wakefield’s Andy Markham , Mike Haenel ,and Phil Haenel handled negotiations for existing leases prior to this sale and have been retained by TA Realty to continue leasing efforts at the property.
The Phoenix metropolitan area ranks second among all U.S metros when it comes to top distribution and warehouse markets based on factors such as construction pipeline activity,growth rate,costs,and number of airports.This acquisition further solidifies Phoenix’s position within this market segment behind only Dallas out of twenty major cities across America.
