Chandler Building 100% Recycled
If you're going to do sustainable development, Hines managing director Chris Anderson tells us, go whole hog. Recently Hines demolished a building in Chandler and recycled every bit of it.
Chris, who's also local city leader for Houston-based Hines, says demolishing and recycling Elevation Chandler was a massive undertaking. More than 9,300 tons of concrete and 130 tons of steel (rebar and wire cable) were recycled. BCS Enterprises of Gilbert oversaw the recycling and razing of the structure. Hines is building Chandler Viridian at the location, the northwest corner of the Loop 101/Loop 202 interchange.
The mixed-use development will include a multifamily complex, a six-story hotel, a central plaza with 250k SF of office space, and retail, along with a pedestrian promenade to the Chandler Fashion Center. Also, Alliance Residential of Phoenix is developing a Class-A multifamily property at Chandler Viridian. Construction of the apartments is expected to begin this quarter. |
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Top stories on Bisnow.com
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Tech Tenants Come to Scottsdale
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Downtown Scottsdale is attracting all kinds of tech-forward companies, quickly pushing rental rates to almost $30/SF and causing vacancies to drop into the low single digits, JLL SVP Brian Ackerman tells us. What's bringing them to the area? Walkability, for one thing -- 4141 N Scottsdale, for instance, gets an 80 out of 100 from Walk Score, or Very Walkable. Recently Brian, along with JLL senior managing director Dennis Desmond, repped the seller, 4141 N Scottsdale Holdings LLC, in the $34.5M trade of the property. Palisades Capital Realty Advisors was the buyer. |
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The three-story, 147k SF 4141 building is 91% occupied. Built in 1989 and renovated in 2013, it's at the northeast corner of Scottsdale and Indian School roads, within walking distance of Scottsdale Fashion Square. JLL's Chris Casey and Reid McGlamery secured the financing for the buyer. Capital's looking for this kind of property, too. According to Chris, the deal generated a “tremendous response from lenders” who were impressed with the location, as well as the high occupancy. |
Hayden Station Inks Restaurant Deal
The Grill on Mill has leased 5,500 SF at Hayden Station, 350 S Mill Ave in Tempe. The California-based operator plans to open the new restaurant mid-2015. It's the latest lease for the 108k SF mixed-use property, which Go Daddy founder Bob Parsons scooped up last year for $26.5M, and which is near light rail and the ASU campus. DTZ VP Brent Mallonee repped the landlord, YAM Properties, while Cushman & Wakefield's Courtney Auther Van Loo repped the tenant.
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New Office/Hangars for Chandler Airpark
A 250k SF office and hangar development has been proposed for the Chandler Airpark by Tempe-based Wingspan Business Investments, the Phoenix Business Journal reports. If approved by the city, the development would be built in phases, beginning with an 80k SF hangar/office complex; the rest of the development would happen when Chandler finishes building a new taxiway to serve the North Terminal Area, where Wingspan is currently located.
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