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7/18/22
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A Chicago-based institutional investor purchased two buildings totaling 249k sf at Lotus Project – Phase II, a newly built industrial park in Chandler, AZ. They were sold by Conor Commercial Real Estate.
At the time of sale, the buildings were fully leased to two investment-grade tenants. A defense/aerospace company leased the 144.3k sf Building 5 and a medical device company leased the 104.7k sf Building 6. Building 5 features 32' clear height, 43 dock doors and four drive-in doors. Building 6 offers 32’ clear height, 38 dock doors and four drive-in doors.
This latest phase consists of three state-of-the-art, advanced manufacturing and light industrial buildings totaling 292.1k sf. All three buildings provide a parking ratio of 1.63/1,000 square feet, ample power, ESFR sprinklers, skylights and efficient loading dimensions.
Strategically positioned on a high-visibility site off the Loop 202 Fwy, Lotus Project offers many logistical advantages. The site is less than one mile from I-10 and the Loop 202, 15 minutes from Sky Harbor International Airport and 20 minutes from downtown Phoenix. Additionally, businesses have access to the dynamic workforce that exists within a population of more than
three million within a 25-mile radius.
The Class A business park is unique in that it reimagines the concept of traditionally simple industrial design. No detail was overlooked, from the elegant lotus emblem on the truck court gates to the stained concrete blocks found throughout the property. Lotus Project has a unified campus environment with common design features that link the buildings and open space areas with inspiring themes of innovation, creativity and vitality.
Will Strong of Cushman & Wakefield represented Conor in the sale. In March of this year, Building 7, a 46.9k sf building, was sold to a Phoenix-based high precision manufacturer. Jackie Orcutt of CBRE advised both the seller and buyer in the sale.
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