Chandler Of fi ce Building Sells for $5.8M, Includes Parcel for Future Development
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Chandler Of fi ce Building Sells for $5.8M, Includes Parcel for Future Development

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CHANDLER, AZ – February 25, 2013 – (RealEstateRama) — Irgens Partners, LLC has purchased Portico Place, a 41,000 SF offi ce property at 2121 W. Chandler Blvd. in Chandler for $5.79M. The transaction also included a fully-improved 3.2 acre parcel for future development. The improved parcel has the parking and landscaping completed. Drawings for the 48,000 SF, Phase II building are in place.

The seller, Armstrong, a Butler, Pennsylvania telecommunications company developed the building in 2009. Lee & Associates Principals Mike McQuaid, Mike Garlick and Associate Steve Whitehead worked on behalf of Armstrong. Lee & Associates Principals Adam Tolson and Steve Kohls represented the buyer, Irgens Partners. Wisconsin-based Irgens is a leading commercial real estate development fi rm with offi ces in Milwaukee, Chicago and Phoenix.

“Irgens recognized the strong potential to add value to this highquality property. The opportunity to lease up the existing building and the ability to quickly deliver the next phase appealed to the company’s long-term strategic goals,” said Tolson.

The multi-tenant offi ce building features Class A offi ce amenities, retail shopping and a planned, on-site hotel. It is located in the soughtafter Loop 101 & 202 corridors area in Chandler and is close to premier shopping destinations such as Chandler Fashion Square and to Chandler Regional Medical Center.

Since 1983, Irgens has been leading the process of achieving customer, investor, employee and community goals by creatively providing professional, results-oriented real estate solutions. This commitment has led to hundreds of successful healthcare and commercial real estate development projects, totaling more than $2 billion in value.

About

Lee & Associates Arizona
Lee & Associates Arizona specializes in providing exceptional commercial brokerage services to the industrial, offi ce, land and investment sectors of the Phoenix commercial real estate market. The Phoenix offi ce was established in 1991 and is now recognized as one of the most successful brokerage fi rms in the state. Each of the 46 nationwide Lee & Associates offi ces has a strong local ownership combined with a powerful platform from the national Lee & Associates network.

Contact:
Matt DePinto
Senior Research Analyst
Public Media Relations
ph: 602.474.9512
mdepinto (at) leearizona (dot) com
www.leearizona.com

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