April 19, 2024 4:51 pm
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Orbital building in Chandler sold for $19.5 million

By Luci Scott

The Arizona Republic

 

Orbital building in Chandler

A three-story office building on Price Road occupied by Orbital Sciences has sold for $19.5 million.

The property at 3377 S. Price Road was sold to Paramount International LLC of Edmonton, Alberta, Canada, by Rhode Island-based Gilbane Development Co., which built the structure in 2009.

“This sale means there is definitely capital coming to Arizona looking for solid long-term investment opportunities,” said Barry Gabel, who along with Mindy Korth of CBRE represented Gilbane in the deal.

The buyer was represented by Tivon Moffitt of Colliers International. The sale was an assumption of an existing loan.

Continued:

Also: Phoenix office vacancy rate at 26 percent, but jobs gains could cut rate? Phoenix Business Journal

Phoenix small business sales up for month, down from year ago/Phoenix Business Journal

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