With Equity Backing In Place, Offices At Chandler Viridian Slated To Start
Offices at Chandler Viridian, the office component of the master planned Chandler Viridian development, is now a go. Hines, already a significant presence in metro Phoenix, inked a joint venture agreement with New York Life Real Estate Investors, on behalf of its institutional client, as its equity partner to develop the property.
The Offices at Chandler Viridian will be a 250K SF office building at the intersection of Loop 101 and Loop 202, near the Chandler Fashion Center.
The building will feature 41K SF floor plates, energy-efficient glass to allow for natural light and access to a three-story parking garage.
Hines tapped Whiting Turner of Phoenix as general contractor for the office building. Construction will start later in 2017 and be completed in late 2018. CBRE's Jerry Roberts and Patrick Boyle are leading the leasing efforts for the office building.
"The addition of New York Life Real Estate Investors' institutional client creates a powerhouse partnership for this project,” Hines Managing Director and Arizona leader Chris Anderson said.
He stressed the project's place in the larger 950K SF mixed-use Chandler Viridian.
“Tenants will be able to stay at a new hotel, live at a multifamily complex, eat and shop at several retail offerings, and walk along a pedestrian trail,” he said.
The 25-acre mixed-use project includes a Cambria Hotel & Suites, Broadstone Fashion Center apartments, retail offerings at Chandler Viridian Primegate and a pedestrian promenade to the Chandler Fashion Center mall.
Also featured are a dog park, a jogging trail connecting all of the properties, and a large public plaza with high-speed internet and WiFi to enhance the pedestrian experience.