The Phoenix office of Ryan Cos., which has its corporateheadquarters in Minneapolis, purchased the parcel last month for$5.9 million. The parcel is at the corner of 56th Street and PecosRoad in Chandler. Ryan purchased the land from General AmericanLife Insurance, which bought the vacant parcel in 1997.
Construction of the first three buildings in the ChandlerFreeways Business Park is expected to begin later this year. Theflex-industrial buildings in phase one feature 31,300-sf,46,900-sf, and 86,900-sf configurations. The buildings are expectedto be ready for occupancy by the second quarter of 2001.
"If a company is involved in the high-tech industry, this placesit right in the middle of the action," says Bob Crum, a broker inthe Phoenix office of CB Richard Ellis who negotiated the landpurchase.
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