Continuum's Next Move?
Fresh from the $52M buy, we spoke with the new owners of Chandler's Continuum, the 152-acre master-planned, mixed-use business park ripe for build-to-suit development. (It was the March equivalent of watching someone open a new Christmas present.)
San Diego-based Southwest Value Partners' Justin Merritt, whose company snapped up the complex, tells us Chandler is one of the hottest submarkets in Phoenix. Now comes marketing the 81 available acres for the build-to-suits, says Cassidy Turley's Jeff Wentworth (who brokered the sale along with CT's Mike Beall, Sean Spellman, and Chris Walker). “We've received a number of RFPs already,” Jeff says, but declined to elaborate. (We submitted an RFP to Jeff, though our proposal is that he tell us more about the other RFPs.)
The quality of the labor force is making the Chandler area an in-demand market, says Jeff (in white, with family on a recent trip to Green River). He recently helped GoDaddy secure a 150k SF BTS and Amkor a 96k SF BTS in ASU Research Park, a couple blocks north of Continuum. Justin says SVP will continue to scout Phoenix for future acquisitions, whether office properties or land plays (it already owns some 20,000 residential lots). “I think you'll see us over the course of this year acquire some additional properties," he says.