CHANDLER, AZ – Chandler Elliot Partners, LLC, an investment partnership headed by Jim Harrison of Harrison Properties, has purchased a 12.8-acre commercial land site at the SEC of Arizona Ave. and Elliot Rd. in Chandler for the construction and development of an 80,000 SF office building preleased to the Arizona Department of Economic Security (DES).
The all-cash transaction totaled $3,647,692. Escrow closed on February 26, 2016.
Lee & Associates Principal Rick Robertson represented both Harrison Properties and the seller, Pollack Business Park South LLC, an investment partnership headed by prominent East Valley real estate developer, Michael A. Pollack. The property consists of lots 1-9 of Pollack Business Park South.
The new concrete tilt construction building will feature 550-car parking and was a fast track design/build project by Sun State Builders.
Site work on the fully-improved, (I-1, PAD-zoned) parcel has already begun. DES has signed a long-term lease and it is anticipated that 400 employees will work in the new building when construction is completed in August 2016.
For more information, Robertson can be reached at 602.954.3748, or via email at rrobertson@leearizona.com