Hines Breaks Ground on Phoenix Office Building
ByA joint venture between Hines and New York Life Real Estate Investors has started construction of the Offices at Chandler Viridian, a six-story, Class A office building located at the intersection of Loop 101 and Loop 202 in the Phoenix submarket of Chandler, Ariz. The project is expected to become the tallest multi-tenant office building in the area.
“The Offices at Chandler Viridian is a beautifully designed Class A building with high functionality, large efficient floor plates, a building conference center, a tenant lounge, and large courtyard with WiFi and charging stations for electronics,” Chris Anderson, Hines’ managing director and Arizona leader, told Commercial Property Executive. “The Greater Phoenix job market continues to add high quality jobs quarter-over-quarter, which continues to push the vacancy rate down and rental rates up that makes developing this Project very appealing now. We believe the Phoenix market stabilized in 2016 and is now expanding at a measurable and sustainable pace.”…
