Mark IV Capital delivers fourth office building at Chandler Freeway Crossing in Chandler, AZ

Kelly Kharbanda

PHOENIX, AZ – Developer Mark IV Capital has delivered its fourth Class A office building at Chandler Freeway Crossing. 

Dubbed 2625 at Chandler Freeway Crossing, the new Chandler, Arizona building features Class A, country-club-style amenities and direct freeway frontage at the Loop 101/202 interchange, within the popular Price Road employment corridor.

The 2625 building joins three existing Mark IV buildings at the 40-acre Chandler Freeway Crossing project, bringing the business park to more than 425,000 square feet of completed space. 

Dave Seeger

The park’s first three buildings are fully leased to General Motors, ASML, Western Digital and VenSure Employer Services. An additional, 150,000-square-foot building is on the drawing board, for construction upon the successful lease-up of the 2625 building.

JLL Managing Directors Dave Seeger and Mark Gustin are the exclusive leasing brokers for the business park.

“Chandler Freeway Crossing has been a success story from the start,” said Mark IV Senior Vice President Kelly Kharbanda. 

“Our first three buildings quickly stabilized with long-term credit tenant leases. We expect to have similar success at 2625, which has been delivered at a time of tremendous corporate demand for well-located, highly amenitized East Valley office space.”

Mark Gustin

JLL has already fielded strong interest from multiple tenants seeking 25,000 square feet to full-building occupancy at 2625 at Chandler Freeway Crossing.

“This building represents a new era of office product on the Price Road corridor, where tenants can enjoy the same level of freeway accessibility, high-end amenities and shopping and dining that they would find at even the newest developments in downtown Tempe or Phoenix,” said Seeger.

                              Chandler Freeway Crossing Deck

Located at 2625 W. Geronimo Place, 2625 at Chandler Freeway Crossing totals 156,823 square feet in three stories. It features a three-story glass-lined lobby with modern furnishings, 50,000-square-foot floor plates, high 14-foot interior office ceilings and country-club style restrooms with men’s and women’s showers on all floors. 

Common area amenities include a 1.25-mile running path, first-floor patio area and designated food truck court.

2625 at Chandler Freeway is the fourth Class A office building                               at Chandler Freeway Crossing

The building is topped off with an elevator-served VIP roof deck designed for tenant collaboration and events with shaded seating areas, a spectator bar, gas barbeques, designated area for lawn games, full restrooms and stunning views.

Contact:

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

www.jll.com.

JLL closes sale of Chapel Hill, NC apartments

Andrea Howard

CHARLOTTE, NC – JLL Capital Markets announced it has closed the sale of Alta Blu, a 298-unit, Class A apartment community in Chapel Hill, North Carolina.

JLL marketed the property on behalf of the seller, Wood Partners, and procured the buyer, Principal Real Estate Investors.

 Justin Good 

Alta Blu is located at 5840 Farrington Road in Chapel Hill near some of the Research Triangle’s largest knowledge and technology-driven employers.

 The property is also near Highway 54 and Interstate 40, which provides residents with easy access to the area’s top retail and grocers. 

Completed in 2019, the community consists of 282,628 rentable square feet of residential across a mix of studio through three-bedroom homes and 5,000 square feet of co-working office space. 

Apartments feature spacious floor plans, stainless steel appliances, sleek white cabinetry, granite countertops, expansive walk-in closets, wood-style flooring, in-home washers and dryers, and private patios or balconies. 
Community amenities include a saltwater pool, courtyard with outdoor theatre, resident lounge, business center, fitness center, dog walking service and nearby access to botanical gardens and walking trails.

 Jeff Glenn

The JLL Capital Markets team representing the seller was led by Managing Directors Justin Good and Jeff Glenn, Senior Vice President Alta Blu,, Senior Directors Allan Lynch and Caylor Mark, and Vice President John Currin.

“Alta Blu’s sale represents the latest institutional endorsement for Chapel Hill and the greater Raleigh-Durham MSA,” Glenn said. “Unique product with tremendous access to STEM jobs and intellectual capital continues to garner significant investor interest.”

“With ties to UNC-Chapel Hill and Duke University across all parties to the transaction, Alta Blu’s growth story and investment thesis resonated on many levels from ground-up to ultimate sale,” Mark added.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

Allan Lynch

 The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

About Wood Partners:

Wood Partners is a national real estate company that acquires, develops, constructs and property manages multifamily communities. It ranks consistently among the top five multifamily developers in the country. 

Through quality construction, responsible land development and intelligent design, its communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. 

The company has been involved in the acquisition and development of more than 75,000 multifamily homes with a combined capitalization of more than $13.1 billion nationwide. 

Caylor Mark

The company currently owns 63 properties across the United States with a combined total of more than 17,000 homes. 

Wood Partners has offices in 18 major markets nationwide, including Atlanta, Austin, Boston, Charlotte, Chicago, Dallas, Denver, Houston, Los Angeles, Nashville, Orange County, Orlando, Phoenix, Portland, Raleigh-Durham, San Francisco, Washington, D.C. and West Palm Beach. 

To learn more about Wood Partners, please visit WoodPartners.com.

About Principal Real Estate Investors:

Principal Real Estate Investors manages or sub-advises $85.7 billion in commercial real estate assets (as of September 30, 2019). The firm's real estate capabilities include both public and private equity and debt investment alternatives.

John Currin

 Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

Contact:

 Olivia Hennessey

 JLL Senior Associate

 Public Relations  

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

jll.com.