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TA Associates drop $68 million for office-retail project in Chandler

Posted by   /  August 25, 2014  /  No Comments

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Business Real Estate Weekly by Rose Law Group

chandlerChandler – A limited partnership formed by TA Associates Realty in Newport Beach, Calif. paid $68 million ($287.64 per foot) to buy 236,405 sq. ft. of office and retail space within The Park at San Tan project in Chandler. The purchase included a 216,517-square-foot office building and 19,888 sq. ft. of retail space located just south of the southwest corner of Ray Road and the 101 Loop. The seller was The Park at San Tan LLC, which developed the 9.56-acre site. That venture was formed by Lane Pursuits Inc. in Lakewood, Colo. (Robert Judge, manager) and J.F. McKinney + Associates in Chicago, Ill. (Jack McKinney, pres.). The property was acquired through TA Associates Realty’s Fund X, which has $1.562 billion in equity capital. Maricopa County records show the buyer in the cash transaction was The Realty Associates Fund X L.P.

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