LA Investor Buys Second Chandler Office
Like anything else out of LA, there's always a sequel. For Palisades Capital Realty Advisors, it's titled Chandler Corporate Center II. Just months after Palisades picked up Chandler Corporate Center I for $14M, it has purchased the sister 68,400 SF office building that's leased to five tenants (including Broadcom and Element Payment Services) from The Rockefeller Group for an undisclosed sum. Colliers International's Mindy Korth, Phil Briedenbach and Kirk Kuller repped Rockefeller.
Palisades' Joaquin de Monet previously told us here he entered the Phoenix office market because of the fundamentals, pegged by tech, healthcare and education. Plus, he adds, there's a very educated labor pool and the city's affordable. Joaquin also says he's still looking for more product here. The Rockefeller Group could be accommodating, given it just completed the 82k SF Chandler Corporate Center III on spec and has plans for a building IV.