Buyer Attracted to Newly Constructed Building with 15-Year Absolute NNN Lease
Phoenix, Arizona – The Vertex Education building within Chandler Airpark was purchased by a local, private investor as part of a 1031 Exchange transaction. The single-story corporate headquarters building is located at 3125 S. Gilbert Rd.
“This buyer recently sold a successful Tempe apartment community and re-invested the funds in this corporate headquarters asset,” says Mindy Korth, executive vice president with Colliers International in Arizona. “Vertex Education is a very strong charter management organization with a long-term commitment to this office building.”
Chandler Commercial Building B, LLC of Scottsdale purchased the property from Chandler CSO, LLC of Chandler. Mindy Korth, Todd Noel and Sean Westfall of Colliers International in Arizona represented Chandler CSO in the sale. Korth also partnered with Chris Roach and Matt Roach of Colliers International in Arizona to represent the buyer.
The 28,187-square-foot, Class A office building was developed in 2018 specifically for Vertex Education. It is situated within Chandler Airpark, a nine-square-mile area that surrounds the Chandler Municipal Airport. The park has attracted research, technology and other knowledge-worker firms. A variety of notable developers are creating new facilities within the Airpark, attracting discerning tenants who recognize the area for its quality amenities and skilled workforce.
Vertex Education is Arizona’s largest K-8 charter management organization by way of supported student enrollment. Vertex manages charter schools, including Legacy Traditional Schools, which is the highest rated kindergarten to 8th grade charter school network in Arizona. Currently, the company operates 18 schools throughout Arizona and Nevada, serving more than 21,000 students.