(PHOENIX) – Hines, the international real estate firm, has topped out the Offices at Chandler Viridian, the capstone to a mixed-use project that marks a new era for an important site in Chandler.
The last concrete beam has been placed atop the Offices at Chandler Viridian, a six-story, Class A office building with 250,000 square feet of space located at the intersection of Loop 101 and Loop 202 near the Chandler Fashion Center. The building will be the tallest multi-tenant office building in Chandler at completion.
“Hines has seen the tremendous value in this premier site near the Chandler Fashion Center and Price Road Corridor since day one,” said Chris Anderson, managing director and Arizona leader for Hines. “The Offices at Chandler Viridian has generated significant interest from leading-edge companies across several business sectors.”
The Chandler Viridian master plan development is a 25-acre mixed-use project which includes the Offices at Chandler Viridian, a Cambria hotel & suites, Broadstone Fashion Center luxury apartments, sophisticated retail offerings at Chandler Viridian PRIMEGATE and a pedestrian promenade to the Chandler Fashion Center mall. Starlight U.S. Multi-Family recently acquired Broadstone Fashion Center for $84 million, according to Business Real Estate Weekly. The $4.315 million sale of Panera Bread at Chandler Viridian recently set a national record for the highest sale price for the chain, according to AZRE Magazine.
Also featured in the master plan is a dog park, Âľ-mile jogging trail connecting all of the properties, and a large public plaza with high-speed Internet and Wi-Fi—all to enhance the pedestrian experience.
Completion of the Offices at Chandler Viridian is expected in Q4 2018 with the first tenants expected to move in by November.
Stantec has signed a long-term office lease. The company will occupy approximately 22 percent of the building. The office building will have a large, open floorplan with 10-foot tall ceilings, a lounge and large courtyard.
Hines has a joint venture agreement with New York Life Real Estate Investors, on behalf of its institutional client, to develop the Offices at Chandler Viridian.
Whiting Turner of Phoenix is the general contractor for the Offices at Chandler Viridian. RSP Architects of Minneapolis is designing the building.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 24 countries. Hines has approximately $111 billion of assets under management, including $60 billion for which Hines provides fiduciary investment management services, and $51 billion for which Hines provides third-party property-level services. The firm has 108 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,295 properties, totaling over 422 million square feet. The firm’s current property and asset management portfolio includes 506 properties, representing over 210 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
