LA Investor Back for Second Helping of Phoenix
The biggest rule in Los Angeles is there's always a sequel. For Palisades Capital Realty Advisors, its sequel is titled Chandler Corporate Center II. Just months after Palisades picked up Chandler Corporate Center I for $14M, the company picked up the sister 68k SF office building that's leased to five tenants, including Broadcom and Element Payment Services, from the Rockefeller Group for an undisclosed sum. Colliers International's Mindy Korth, Phil Briedenbach and Kirk Kuller brokered the sale for Rockefeller.
Palisades' Joaquin de Monet previously told us he entered the Phoenix office market because of the market fundamentals being pegged by tech, healthcare and education. Plus, he adds, there's a very educated labor pool and the city's affordable. Joaquin also says he's still looking for more product here. And the Rockefeller Group could be accommodating, given it just completed the 82k SF Chandler Corporate Center III on spec and plans for a building IV in the future.
