Mark IV Capital Delivers 4th Building at Phoenix Business Park
- Jan 30, 2020
Mark IV Capital has delivered the fourth office building at Chandler Freeway Crossing, a 40-acre business park in Chandler, Ariz. The 156,823-square-foot, Class A asset dubbed 2625 at Chandler Freeway Crossing brings the office campus to more than 425,000 square feet of space.
The developer broke ground on the park’s newest addition in 2018, after receiving $23.9 million in construction financing from U.S. Bank, according to Yardi Matrix data. The development cost was approximately $40 million.
Situated on 24 acres at 2625 W. Geronimo Place, the LEED-proposed building has 50,000-square-foot floor plates, 14-foot ceiling heights and a 10,000-square-foot collaborative roof deck. The property also features a garage with a parking ratio of 6.5 per 1,000 square feet. Amenities include a 1.3-mile running path, first-floor patio area and food truck court.
Located within the Price Road employment corridor, the 2625 building has freeway frontage at the Loop 101/202 interchange. More than 5 million square feet of retail and restaurant space are within a five-mile radius, while the Hilton, Marriott, Hampton and Homewood Suites hotels are all within one mile. The property is situated close to a six-story, 252,418-square-foot office building that received its LEED Gold certification in December.
The existing buildings are currently fully leased to General Motors, ASML, Western Digital and VenSure Employer Services.