Business Real Estate Weekly by Rose Law Group
Chandler – ViaWest Properties LLC in Phoenix (Gary Linhart, Steven Schwarz, principals) is working on plans to develop a office-retail mixed-use project in Chandler at the northwest corner of Chandler Boulevard and McClintock Drive. The company is under contract to acquire the 25-acre parcel in a deal that is contingent on zoning approval. The property is owned by a company formed by Sooner Investment in Oklahoma City, Okl. (Robert Collett, et al., principals). The commercial site is listed for sale with an asking price of $8.50 per foot, or a total of $9.25 + million. Sources say ViaWest is expected to pay closer to $7 to $7.50 per foot, or $7.5 to $8 million. The deal is being brokered by Todd Noel, Keith Lambeth and Ryan Timpani of Colliers International in Phoenix. The owner of the land has filed a re-zoning application in Chandler to allow for an office, light industrial and retail project called Chandler Corporate Center. Sooner Investment is requesting that zoning on the site reverts back to zoning in 2005 that allowed roughly 430,000 sq. ft. of office and industrial space and about 50,000 sq. ft. of retail buildings. Continued
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