Ryan Cos. and Alidade Capital have begun construction on Chandler Freeways Business Park, a 190,475-square-foot industrial development in Chandler, Arizona. According to Commercial Edge, the project includes converting an existing 175,654-square-foot office building into part of the development and is expected to be completed by the end of this year. The site is located at 6955 W. Morelos Place and is less than a mile from Highway 202.
The developers’ plans include transforming the two-story office building into an 87,600-square-foot single-story industrial facility while also constructing a second industrial asset spanning over 102,875 square feet. Butler Design Group was responsible for providing design services for this project.
In November of last year (2020), Ryan purchased the office property from Landwin Management Co., paying $16.8 million for it in total. Verizon had been leasing out this asset since as far back as2004.
Interestingly enough,the original purpose of this building was not meant to be used as an office space; it was initially built as an industrial facility before being converted later on downthe line.However,due to its conversion-friendly design,it will now return backto its original intended usageas partofthis newdevelopmentby RyanandAlidade.
