By Weldon B. Johnson
The Arizona Republic
There’s an adage in real estate that the three most important factors are location, location and location.
When it comes to new office space in the Valley, it seems Chandler’s Price Road Corridor is the hot location.
In August, San Diego-based developer Douglas Allred Company broke ground on a 68,867-square-foot, two-story office building, the fifth on the campus on the northeastern corner of Price and Willis roads. It is only the second speculative office building, built before a tenant has been secured, in the Valley this year.
The other is a 92,000-square-foot Allred building next door that is also part of Allred Park Place.
They are the first built in the Valley in four years.
Mark Krison, senior vice president at CBRE, the Phoenix firm handling leasing for the space, said the Southeast Valley in general and the Price Road Corridor in particular are desirable.
“Historically, demand has been to be in the center of Phoenix,” Krison said. “And then as land has become less available, development pushed south and east or north and west, whichever the case might be. This is where (things) are going, as far as new development goes. This is the place to be.”
Also: Business, real estate deals still a challenge to close, but improvement seen/Phoenix Business Journal