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January 31, 2023
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Flex/Office Building in Chandler, AZ Goes for $200/sf

1/19/23

Norte at Chandler, an 85.8k sf, multi-tenant Class A flex office building in Chandler, AZ, was acquired by United Realty M.T.A. for $17.2 mil, or approximately $200 per square foot. The asset consists of a freestanding single-story office building that is 70% leased to two investment-grade tenants.

Located at 4100 W Galveston St in a prestigious area coined the Silicon Desert, Norte at Chandler was built in 2016 and is situated on nearly eight acres. Its two existing tenants consist of Enterprise Holdings, the world’s largest car rental company, and a Fortune 500 semiconductor firm. The location provides direct access to Interstate 10 and is also near the Loop 101 and Loop 202 freeway interchange.

Eric Wichterman, Mike Coover, Steve Lindley, and Alexandra Loye with Cushman & Wakefield represented the institutional seller in the transaction.

“With its Southeast Valley location and exceptional quality, Norte at Chandler is positioned to perform well long-term. The vacant space in the property was recently built out into a move-in-ready, stunning spec suite with creative finishes. Several tenant prospects showed interest in the space during the sale process and we expect it to lease in short order,” said Wichterman.

“Recognized for its quality of life, the Southeast Valley is filled with upscale housing, shopping, and dining that has consistently attracted the youthful and highly talented workforce coveted by the high-caliber corporate tenants,” Coover added. “Chandler is renowned for attracting strong international technology and financial services employers.”




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