PHOENIX-Ryan Cos. has closed on a 56-acre parcel in the suburb of Chandler and plans to begin construction later this year on a $35-million business park that will include nine flex-industrial buildings totaling more than 850,000-sf.

The Phoenix office of Ryan Cos., which has its corporate headquarters in Minneapolis, purchased the parcel last month for $5.9 million. The parcel is at the corner of 56th Street and Pecos Road in Chandler. Ryan purchased the land from General American Life Insurance, which bought the vacant parcel in 1997.

Construction of the first three buildings in the Chandler Freeways Business Park is expected to begin later this year. The flex-industrial buildings in phase one feature 31,300-sf, 46,900-sf, and 86,900-sf configurations. The buildings are expected to be ready for occupancy by the second quarter of 2001.

“If a company is involved in the high-tech industry, this places it right in the middle of the action,” says Bob Crum, a broker in the Phoenix office of CB Richard Ellis who negotiated the land purchase.

Chandler is home to an expanding number of high-tech companies, including Intel Corp., which is adding to its already sizable campus with a new multi-billion dollar fabrication plant.

The Chandler Freeways Business Park will front upon the future San Tan Freeway and is near Interstate 10, the main thoroughfare through metropolitan Phoenix.

CB Richard Ellis is also marketing the property to prospective tenants. The business park is being designed by Phoenix-based Balmer Architectural Group.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.