CBRE Brokers $16.6 Million Sale of Two Flex-Office Buildings in Chandler, Ariz.

Phoenix – Jan. 7 2021 – CBRE has arranged the $16.6 million sale of Allred Airport Center, a two-building 94,545-sq.-ft. flex-tech/office complex located in Chandler, Ariz., to Alturas Capital Partners.

Mark Krison, Glenn Smigiel, Bob Young, Rick Abraham and Luke Krison of CBRE in Phoenix represented the seller, Douglas Allred Company, in the transaction.

At the time of sale, the property was fully leased to a diverse tenant mix, including Perdoceo Education Corporation, Offerpad and PITTFitness.

“Investors were impressed with Allred Airport Center’s long-term potential due to the property’s solid tenancy, flexible design, prime location, abundance of parking, and proximity to an abundant and diverse labor force,” said Smigiel.

Located at 2150 and 2250 East Germann Road, Allred Airport Center is in the high-growth area of Chandler. Each building has a flexible design and clear heights of over 25 feet, allowing for various tenant configurations. The complex is in proximity to numerous restaurants, hotels and Vestar’s Crossroads Towne Center, a 1.2 million-sq.-ft. lifestyle center. It has immediate access to the Loop 202 Freeway and the Chandler Municipal Airport.

High-growth Chandler attracts a variety of tenants due to its access to infrastructure and large, educated labor pool. In the last two years, the area has seen more than 1.3 million sq. ft. of newly leased office space, creating over 6,400 new jobs.