CHANDLER, AZ – October 30, 2014 – (RealEstateRama) — Last Thursday, October 23, the Chandler City Council approved the Planned Area Development (PAD) zoning request and site plan approval for Chandler Airport Center, a general industrial park at the SWC of Germann and Cooper Roads in Chandler.
Meritex Chandler, LLC, a wholly owned subsidiary of Minneapolis based Meritex, will develop Chandler Airport Center in association with Tempe-based Metro Commercial Properties, who will provide development and property management services to Meritex for the three building industrial park. The Meritex/Metro development team has engaged the brokerage team of Chris McClurg and Ken McQueen, principals with Lee & Associates, to handle leasing for the property.
The 20-acre site is located immediately north of the Chandler Municipal Airport, with direct access off the Loop 202 from the Cooper Road exit. The project will be constructed in two phases. The initial phase will include two rear-load general industrial buildings measuring 122,323 and 89,832 square feet respectively. Both buildings will feature bay sizes divisible to +/- 7,500 SF, 124’ truck courts, heavy power, 24’-30’ clear height and parking in excess of 2.0/1,000 SF.
The second phase of development will consist of a one or twostory offi ce/fl ex building of 26,000 to 48,400 square feet, with parking ranging from 4 to 7 per 1,000 SF, available on a build-to-suit for sale or lease. McClurg and McQueen will also represent the developers in the marketing of the 3.4 acre parcel.
“The site has fantastic visibility on Germann Road with over 2,000 feet of frontage along with direct access from four public streets,” stated Dan Williams, Chief Investment Offi cer of Meritex. “The project will provide excellent opportunities for general industrial users to gain prominent visibility for their wholesale & service facilities and locate closer to their customer base in the Southeast Valley.”
“The product is designed to serve both small and large tenants alike. Though we will deliver two large contiguous blocks of warehouse space to the Southeast Valley that are currently in short supply, we have designed the buildings to functionally subdivide to as small as 7,500 SF, each bay will be equipped with both a truck-well and a grade-level door,”
About Metro Commercial Properties
Metro Commercial Properties is a regional development and property management enterprise, based in Tempe since 1986. Metro develops and manages both offi ce and industrial for its own equity account, as well as for public and private institutional capital clients. Its current management portfolio consists of 2.5 million square feet of offi ce and industrial property spread throughout the Phoenix MSA. For more information about Metro and its current development projects, Additional information can be found at the Company’s website www.mcpaz.com.
About Meritex
Meritex is a private real estate investment and management company that acquires, develops, owns and operates commercial real estate, primarily institutional grade, multi-tenant industrial properties. The Company owns, leases, and manages 9.1 million square feet of commercial real estate in seven markets in the U.S. Its portfolio consists of multi-tenant industrial, offi ce and subsurface industrial properties. The Company’s properties are located in Atlanta, Columbus, Houston, Indianapolis, Kansas City, Minneapolis-St. Paul, and Phoenix. Additional information can be found at the Company’s website www.meritex.com. added Janet Herlyck, Vice President of Metro Commercial Properties.
The Meritex/Metro development team anticipates completion of the fi nal project design specifi cations in December of this year with a planned 1st quarter 2015 ground breaking for construction. Availability of the completed buildings is targeted for mid-summer 2015. McCall Architects and CEG Engineering worked together in the architectural and civil engineering for the industrial park. No contractor has yet been selected for construction.
“There is a substantial amount of momentum in the Chandler Airport submarket today, refl ective of the abundance of amenities, skilled labor, proximity to quality aff ordable housing and pro-business support from the City of Chandler,” said Tony Hepner, Principal of Metro Commercial Properties. “This is an exceptional master planned business environment and our industrial park will provide much needed space to further expand the employment base in and around the Chandler Airport.”
For more information:
Chris McClurg, 602.954.3766, cmcclurg (at) leearizona (dot) com
Ken McQueen, 602.474.9564, kmcqueen (at) leearizona (dot) com
About Metro Commercial Properties
Metro Commercial Properties is a regional development and property management enterprise, based in Tempe since 1986. Metro develops and manages both offi ce and industrial for its own equity account, as well as for public and private institutional capital clients. Its current management portfolio consists of 2.5 million square feet of offi ce and industrial property spread throughout the Phoenix MSA. For more information about Metro and its current development projects, Additional information can be found at the Company’s website www.mcpaz.com.
About Meritex
Meritex is a private real estate investment and management company that acquires, develops, owns and operates commercial real estate, primarily institutional grade, multi-tenant industrial properties. The Company owns, leases, and manages 9.1 million square feet of commercial real estate in seven markets in the U.S. Its portfolio consists of multi-tenant industrial, offi ce and subsurface industrial properties. The Company’s properties are located in Atlanta, Columbus, Houston, Indianapolis, Kansas City, Minneapolis-St. Paul, and Phoenix. Additional information can be found at the Company’s website www.meritex.com.
