NewsSoutheast Valley NewsChandler News


Deals of the week: Valley building leased by Allstate changes hands

Posted at 8:02 AM, Jun 04, 2019
and last updated 2019-06-04 11:02:57-04

One Chandler Corporate Center, a 117,394-square-foot Class A office, fully leased by Allstate Insurance, has sold for $25.2 million, according to real estate database Vizzda.

Barry Gabel, Chris Marchildon and Will Mast of CBRE represented the seller, VanTrust Real Estate, LLC, in the transaction.

The property was acquired by Phoenix-based Strategic Office Partners, which is owned by TPG Real Estate Partners. The building is located near Chandler Boulevard and McClintock Drive.

“Chandler continues to be one of the metro’s strongest submarkets for corporate tenants, and this sale is evidence of the area’s long-term growth potential as users look to suburban submarkets for high-quality new construction, amenity-rich environments and access to well-educated labor forces,” Gabel said in a statement.

Read more about Valley business deals in this story from the Phoenix Business Journal.