CHANDLER, Arizona (November 3, 2025) – Full-service commercial real estate firm Lincoln Property Company (Lincoln) announced the purchase of a 191,000-square-foot, partially occupied Chandler Data Center. The company plans to develop the facility’s vacant shell space, delivering new turnkey data center inventory and implementing cooling system improvements that could save millions of gallons of water per month.
The data center property is located on 14.5 acres at 2500 W. Frye Rd., at the intersection of the Loop 101 and Loop 202 freeways, within the Price Road technology corridor.
The Frye Road property offers 28MW of confirmed utility power, served by an existing and dedicated on-site Salt River Project (SRP) substation. It features four data center halls, one of which is fully leased to a Fortune 500 enterprise user. Lincoln plans to fit out the remaining three halls, adding 16MW of critical capacity and positioning the building for immediate lease-up. An initial 4.2MW is targeted for delivery in early Q1 2026.
Lincoln will also transition the project from an evaporative-cooled to an air-cooled mechanical system, creating the potential for up to 3 million gallons of water savings per month for the City of Chandler. The site is planned for additional development, which the City of Chandler approved as part of a development agreement initiated by the property’s previous owner.
“We are grateful to the City of Chandler and CBRE for their collaboration as we approached the closing of this acquisition,” said Lincoln Property Company Executive Vice President and National Data Center Group Leader Ryan Sullivan. “Arizona’s unprecedented, immediate demand from hyperscale, enterprise and neocloud users has pushed local data center vacancy to record lows. This facility will add critical turnkey capacity with immediately available utility power. It’s a rare combination that we look forward to delivering as part of our ongoing value-add data center strategy.”
Kristina Metzger, Ben Wobschall, and Mark Krison of CBRE represented the seller in the Frye Road facility sale. Lincoln will serve as the building’s property manager. Lincoln’s data center leasing team will handle leasing.
Lincoln has a unique history at the Frye Road property, having served as its owner since acquiring the building in 2018 as part of a larger data center portfolio. It sold the asset in 2019 to the current seller.
“We originally purchased and managed this facility to achieve its highest and best use,” said Lincoln Property Company Senior Executive Vice President David Krumwiede. “When we sold the asset, it was to an entity that was equally committed to preserving and enhancing its value. Now, it is our turn to set yet another performance bar for tenants and the Chandler market, at a time when the need for responsible data center space couldn’t be higher.”
According to CBRE, the Phoenix metro area ranks as the nation’s fourth-largest data center market, with steady demand and absorption driving vacancy rates below 2%.
The Frye Road facility adds to that new data center inventory, bringing Lincoln’s robust metro Phoenix footprint to 23.2 million square feet of owned and managed space across Class A office and industrial projects such as Park303, Luke Field, Goodyear AirPark, Union, and the Grand at Papago Park Center.
For leasing at 2500 W. Frye, contact Lincoln Property Company Director of Data Center Leasing, Rob Doretti at [email protected].