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8/22/25
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A two-story, 132k sf flex office building situated on ground leased land within the prestigious Arizona State University Research Park sold for $7.26 mil ($55/sf). The property, sitting on 9.6 acres at 8700 South Price Rd, north of Warner Rd on the west side of Hwy 101, was purchased by David McHenry.
Located within the ASU Research Park, 8700 South Price Road benefits from immediate access to the Loop 101 freeway, which serves as a gateway to the valley's entire freeway system. The property is surrounded by over 9.4 million square feet of retail amenities within a three-mile radius, including the Chandler Fashion Center. The strategic location offers access to a large and dense labor pool of over 2.59 million people within a 30-minute commute.
Cushman & Wakefield’s Eric Wichterman, Chris Toci and Mike Coover represented the seller, LNR Partners, LLC. CBRE’s leasing advisory team, including Charles Miscio and Luke Walker, assisted in the transaction.
"This transaction underscores the strategic value of 8700 South Price Road, given its prime location within ASU's Research Park and its potential to attract high technology companies to collaborate with ASU and join other credit tenants and corporate headquarters facilities in the park," said Coover.
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