(Portland, OR) ScanlanKemperBard (SKB) has announced the acquisition of 6150 W. Chandler Blvd, an industrial and flex property situated on over 10 acres of land in Chandler, Arizona. Located along West Chandler Boulevard, the Chandler Business Center is 15 minutes south of the Phoenix Sky Harbor International Airport, and is conveniently located to Interstate 10 and the 202 Loop, providing direct access to the entirety of the greater Phoenix metropolitan area. SKB secured the property, which is 100% leased; thus highlighting the strength of tenant demand for well-located light industrial spaces in the greater Phoenix region.
By implementing a highly targeted capital improvement program, SKB expects to maintain the high occupancy rate, while capturing market rental rate growth.
According to SKB President, Todd Gooding, “With significant investments from corporations in advanced manufacturing in the Greater Phoenix area, and specifically the South East Valley, we hope this is the first of many acquisitions to grow SKB’s industrial and flex platform that caters to advanced manufacturing, life science and food manufacturing tenants.”
SKB Assistant Vice President of Acquisitions, Dixon Hinderaker, added, “Chandler, Arizona has become a hub for advanced manufacturers in recent years due to its desirable workforce, affordable costs and operating advantages, as well as its existing pool of high-profile tenants. Chandler has sustained positive rent growth for the past eight years, which highlights not only strong tenant demand; but a lack of new development for industrial property designed for non-distribution focused users. The Chandler Business Center fits that mold, and SKB believes it is poised to continue to be an attractive facility for light industrial and advanced manufacturing tenants for the foreseeable future.”
SKB is an established real estate developer and operator based in Portland, Oregon. Since its inception in 1993, SKB has originated total portfolio activity of $4.7 billion, comprised of 30.6 million square feet of office, industrial and retail space and 2,154 residential units. With longstanding relationships in each of its markets, SKB has the ability to source, structure and execute value creation across a wide spectrum of real estate opportunities.