(To read more on the industrial market, click here.)

CHANDLER, AZ-A local company has broken ground on the 184,000-sf Hewson Chandler Airport Center. The $23-million project’s construction launch took place 18 months after the developer acquired the 14.4-acre tract in the 225-acre, mixed-use Chandler Airport Center.

“The seller was putting in road improvements and it wasn’t done until now, which is why the delay,” Mark Krison, senior vice president of CB Richard Ellis’ Phoenix office, tells GlobeSt.com. He brokered the land sale for developer, Hewson Co., and his team has landed the leasing assignment for the three buildings going up at Loop 202, between Cooper and Gilbert roads. The trio delivers in the summer.

Krison says the triple-net rates range from 75 cents per sf to 80 cents per sf for back buildings while front buildings are going for $1.25 per sf. “We anticipate 50% of the space will be office and 50% will be warehouse,” he adds. “It’ll take about 12 months to lease up.”

Hewson Chandler Airport Center’s buildings will range from 50,000 sf to 75,000 sf. The space is being marketed to tenants who need 4,800 sf to several buildings. Krison says the ideal tenant is one who’s looking for service center-type space. “That market is underserved with that type of product,” Krison says. “It’s good timing on this project.”

Local firm Will Architects designed the Hewson Chandler Airport Center buildings. Lusardi Construction Co.’s Phoenix office is the general contractor. The CBRE team includes senior vice president Bob Crum and sales professional Scott German.

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