(NEWS RELEASE) Hines, the international real estate firm, today announced its sale of land for the development of the retail component at Chandler Viridian, marking the final land sale of Chandler Viridian’s 25-acre master plan and a major milestone in the mixed-use project’s development. Chandler Viridian is located at the Northwest corner of the Loop 101/Loop 202 interchange in the heart of the Price Corridor in Chandler, Ariz.
Chandler Viridian Retail LLC, formed by WINLEE Development (a division of Phoenix-based Winfield Lee Investments, Peter Nelson and Gary Emery, principals), purchased the retail land, totaling 3.25 acres. The project, called Chandler Viridian PRIMEGATE, features approximately 24,000 square feet of curated, specialty restaurant and retail amenities as a component of the larger Class-A mixed-use development under construction at the entry to Chandler Fashion Center. Chandler Viridian PRIMEGATE is located at the hard corner of the intersection of Price Road/Loop 101 Freeway and Frye Road and at the east main entrance to Chandler Fashion Center’s entertainment hub.
“Chandler Viridian PRIMEGATE serves as the ‘front door’ of Chandler Viridian and will connect our pedestrian promenade to Chandler Fashion Center,” said Chris Anderson, Hines managing director and city leader. “PRIMEGATE will provide an elevated restaurant and retail experience as additional on-site amenities to Chandler Viridian’s multifamily, Class-A office and hotel, completing our master plan vision.”
“We are enthused to bring our retail expertise to bear in working with such industry icons as Hines, Alliance Residential and Concord Hospitality to complete the vision and development,” said Peter Nelson, president and CEO of WINLEE. “Given the ultra-high profile exposure and nature of the real estate, we are setting out to create a more sophisticated experience. We were not only drawn by the potential captive customers generated by Chandler Viridian’s multifamily, office and hotel, but importantly we recognized that Frye Road now serves as a primary entrance to the regional mall for a vast number of the surrounding businesses and neighborhoods in the trade area. The project’s new, direct access off the Loop 101 Frontage/Price Road is a game changer for the intersection and, together with the draw of Chandler Viridian, has significantly raised the bar for this component of the greater mall overlay.”
Because the northbound Loop 101 bypasses Chandler Boulevard, Frye Road serves as the first access to the mall and surrounding retail for customers traveling from either direction on the Loop 202 Freeway, traveling north on Price Road from the Silicon Desert, or traveling west on Frye Road from the hospital area.
Nelson elaborated, “The overwhelming response we have already received from users prior to earnestly launching marketing efforts endorses the vision that the market here yearns for something different. By integrating the jogging trails, dog park, and pedestrian esplanades of Chandler Viridian together with our progressive architectural vision, we will fulfill this demand while still providing easy, convenient access and bountiful parking for off-site patrons drawn to the Chandler Viridian experience. We have already commenced our development efforts, and given that we do not require third-party financing, we will be able to immediately satisfy this niche.”
“The City of Chandler is delighted with the progress at Chandler Viridian and is excited to see the retail, multifamily, office and hotel take shape at the site long considered strategic to our economic development plans,” said Micah Miranda, City of Chandler’s economic development director.
Chandler Viridian Retail LLC was represented by Mike DiDomenico of Wessex Commercial Management; Wessex will also serve as property manager for Chandler Viridian PRIMEGATE. Paul Serafin with De Rito Partners and Stan Sanchez, who is now with Colliers International, represented Hines in the sale.
Contact the specialty retail leasing team of LeDonna Spongberg (602.735.5640) and Traci Russell (602.735.1764) at CBRE/UCR for inquiries. Reigle and Associates of Phoenix serves as architect.
Chandler Viridian’s apartments, office and hotel are moving forward:
- Apartments – Phoenix-based Alliance Residential Company continues to makes development strides on Broadstone Fashion Center, a 335-unit, Class A multifamily community at Chandler Viridian. This high-end residential community — part of Alliance’s exclusive Broadstone collection — will include a mix of studio, one-bedroom and two-bedroom residences plus individual attached garages. Each apartment home will feature top-of-the-line finishes, including granite or quartz countertops, full-size stainless-steel appliances, gas cooktops and faux wood-vinyl flooring. Community amenities include a two-story state-of-the-art fitness center, interior clubhouse and game room, a resort-style pool and spa area, as well as outdoor grills and gaming areas. The first units will be available for lease in the spring of 2016.
- Office – The six-story, Class A office building with 250,000 square feet of space is expected to be completed in mid-2017. The architect is RSP of Tempe; the general contractor has not been selected. Contact Jerry Roberts with CBRE (602.735.5528) for leasing inquiries.
- Hotel – Concord Hospitality Enterprises Company of Raleigh, North Carolina, is developing a Cambria Hotels & Suites, expected to be completed in the second quarter of 2017. The Cambria Hotel & Suites will feature between 130 and 150 suite-style rooms with amenities including a pool, sundeck, breakfast bar and business meeting space. The architect is DLR Group of Chicago; the general contractor has not been selected.
