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CHANDLER, AZ-Following months of speculation Capital Commercial Investments Inc. has been unveiled as the buyer of the former Motorola Inc. campus. The Austin, TX-based investor is currently working with the city of Chandler to determine the best use for the 512,000-square-foot, 152-acre campus on which it has kept tabs since Motorola put it on the sales block in mid-2007.

“We have a value-oriented perspective on acquiring property,” explains Karl James, Capital Commercial Investments’ managing director. “We watched this property for two years, watched it go down in price, and after about a year and a half, it appeared the price level was getting more interesting for us.”

James declined to release the sales price, though various reports note the asset at 2501 S. Price Rd. traded hands for several million dollars. Maricopa County assessed the 1980s property at just under $26 million. Luke Walker with CB Richard Ellis’ Phoenix office represented the buyer. Seller Motorola Inc., headquartered in Schaumberg, IL, was represented by Jeff Adkinson, who operates out of Jones Lang LaSalle’s Los Angeles, CA office.

The local media reports that the campus will likely be a future cornerstone for Price Corridor, an area designated by the city as an ideal location for science, technology and life sciences companies. But James tells GlobeSt.com nothing is set in stone as it pertains to the Motorola campus. Capital Commercial Investments and the city are still in the exploratory stages of what can be done with the property.

“We think it’ll take three to six months to figure out the best use for that site, though we like the idea of a science and research style campus,” James remarks. The site is a great place for a corporate headquarters, he adds, as Price Corridor and the city of Chandler has long been a draw for well-trained and educated people as well.

The campus represents just one of a collection of area Fortune 500 facilities owned by Capital Commercial Investments. In April 2008, the company bought a 129,187-square-foot vacant plant belonging to Intel Corpfor just over $7 million. The company also owns Honeywell Aerospace’s Military Repair & Overhaul Facility, next to Sky Harbor Airport. According to the company’s website, the Honeywell asset is available for sale.

More buys are to come, and not just in Phoenix, James says. “We’re definitely looking to acquire more,” he comments. “We think, with this downturn, we’ll be active with acquisitions nationwide.”

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