Chandler City Center

Chandler, AZ

Property Type

Investment Type

Investment Date

December 2015

Status

Realized

Tryperion acquired the 105,000 SF property in the heart of downtown Chandler, one of the most walkable office locations in the Phoenix MSA. The property was 95% leased at acquisition, with a 60% anchor tenant paying below market rent. The business plan focused on driving rental rate increases through targeted capital improvements to align the building with the growth and energy of the submarket.

Investment Highlights

  • Negotiated an extension/contraction with the anchor tenant to increase their base rent by 26% and reduce their space by one-third
  • Converted anchor tenant’s subtenant to a direct building tenant
  • Sold the building 2019 at 93% occupancy
Chandler City Center
Chandler City Center