Mark IV Capital delivers fourth office building at Chandler Freeway Crossing
JLL reports strong interest in freeway location, country-club-style amenities
PHOENIX, January 29, 2020 – 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. 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.”
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.
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.
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.
Logistically, 2625 at Chandler Freeway Crossing offers direct freeway access to the Loop 101 and Loop 202, with tenant signage opportunities available via a 60-foot-tall, freeway-facing monument sign. The building will be served by an adjacent parking garage, creating a 6.5/1,000 parking ratio. It also has more than 5 million square feet of retail and restaurant space – including the 240 restaurants and retailers at Chandler Fashion Center – located within a five-mile radius, and the Hilton, Marriott, Hampton and Homewood Suites hotels within one mile. Nearby corporate neighbors include Intel, Wells Fargo, Northrop Grumman, Walgreens, Infusionsoft, Bank of America and eBay.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Mark IV Capital, Inc.
Mark IV Capital, Inc. is a privately held real estate firm founded in 1974. The company acquires, invests in, develops and manages commercial projects utilizing a long-term approach to deploy capital in markets where existing drivers will propel future value. Headquartered in Newport Beach, California, with offices in Arizona, Colorado, Nevada, Texas and Northern California, Mark IV Capital’s vision is to be a world-class provider of working environments for businesses. Mark IV Capital owns office, retail, medical office, and industrial properties in Arizona, Nevada, Texas, California and Colorado. Mark IV is currently developing properties in Arizona, Nevada and Texas. For additional information, please visit www.markiv.com.