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July 25, 2024
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EQ Exeter Property Group Buys 242k sf AZ Biz Campus


EQ Exeter Property Group bought a three-building, office and industrial property totaling 241.7k sf of space in Chandler, AZ. A price was not given out.

Located at 1890 and 1900 South Price Rd, and 3200 West Germann Rd, the property is positioned within the Price Road Corridor, a five-square-mile area of Chandler often referred to as the "Silicon Desert.” The property offers easy access to the Loop 101 & Loop 202 Freeway interchange and is in proximity to the Chandler Fashion Center and a multitude of amenities.

This area has been the only submarket across metro Phoenix to report positive absorption for 15 consecutive years. It led the Phoenix office market last year with 230k sf of positive net absorption, according to CBRE research.

Originally a build-to-suit for Amkor Technology, the property features a two-story, 41.6k sf office building, a three-story, 76.4k sf office building and a 123.7k sf industrial building. EQ Exeter Property Group plans to reposition the existing buildings.

CBRE’s Barry Gabel, Chris Marchildon and Will Mast represented the seller, Digital Realty Trust.

“There are very few, 100%-vacant, value-add office and flex industrial investment opportunities of this size and quality available across Metro Phoenix,” said Marchildon. “This former corporate headquarters campus offers a premier location, and an opportunity for the buyer to transform it for future office leasing at a significantly lower cost than a ground-up development.”

A recent survey of commercial real estate investors ranked Phoenix as a top-10 target among Americas metros. The Sun Belt market jumped five spots to #4 in CBRE’s 2021 Americas Investor Intentions Survey.

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