(PHOENIX) – Hines, the international real estate firm, recently broke ground on the Offices at Chandler Viridian and announced that Stantec, an architectural, engineering, planning and environmental services company, will locate its Southwest regional office there.
The Offices at Chandler Viridian is a six-story, Class-A office building with 250,000 square feet of space located at the intersection of Loop 101 and Loop 202 near the Chandler Fashion Center. The building will be the tallest multi-tenant office building in Chandler at completion. Hines has a joint venture agreement with New York Life Real Estate Investors, on behalf of its institutional client, to develop the Offices at Chandler Viridian.
The office building is the capstone to the Chandler Viridian mixed-use project. In 2014, Hines razed Elevation Chandler, an unfinished structure and local eyesore, and launched the mixed-use project.
“Breaking ground on the Offices at Chandler Viridian is the culmination of years of hard work in implementing the vision of our mixed-use environment,” said Chris Anderson, managing director and Arizona leader for Hines. “Today’s groundbreaking represents tremendous investment in this high-profile location near the Chandler Fashion Center and Price Road Corridor, and an enduring collaboration among city leaders and our partners.”
The Offices at Chandler Viridian is integrated into the Chandler Viridian master plan development, a 25-acre mixed-use project which also includes a Cambria hotel & suites, Broadstone Fashion Center luxury apartments, sophisticated retail offerings at Chandler Viridian PRIMEGATE and a pedestrian promenade to the Chandler Fashion Center mall. Also featured in the master plan is a dog park, ¾-mile jogging trail connecting all of the properties, and a large public plaza with high-speed Internet and Wi-Fi – all to enhance the pedestrian experience.
Stantec has signed a 55,000-square-foot long-term lease and expects to begin operating at the Offices at Chandler Viridian in January 2019. The company will occupy approximately 22 percent of the building. The office building will have a large, open floor plan with 10-foot tall ceilings, a lounge and large courtyard.
Within the space, Stantec will be combining four regional offices to unite more than 250 specialists in mining, water, transportation, community development, environmental, buildings consulting services. The company’s collective experience reaches into more than four decades supporting communities throughout metro Phoenix and Southern Arizona.
“This location allows us to co-locate all of our talented, Phoenix-area team members in a space that not only encourages collaboration, but is easily accessible with attractive lifestyle features to enjoy,” said Curt Chapman, Stantec Southwestern regional vice president.
Alliance Bank of Arizona is providing construction financing.
“Alliance Bank of Arizona is proud of our involvement with Hines and New York Life on this highly anticipated project in the East Valley," said Chris Burson, senior vice president of commercial real estate lending for Alliance Bank of Arizona. “This project is attractive to us because of its prime location near the booming Price Road Corridor and is sure to be a valuable addition to Chandler's fast-growing economy.”
The City of Chandler is looking forward to Chandler Viridian’s completion.
“Chandler Viridian is responsible for completely transforming a key area of our City starting with the demolition of Elevation Chandler,” said Chandler Councilmember Terry Roe. “The highly visible and accessible area now offers luxury residential housing, a future hotel and soon, a place for people to work with its new 250,000 square-foot, six-story office building that will be breaking ground. We couldn't be more excited for this project.”
Jonathan Paine and John Cunningham with JLL provided advisory services for the entire financing.
Whiting Turner of Phoenix is the general contractor for the Offices at Chandler Viridian. RSP Architects of Minneapolis is designing the building.
Construction is projected to commence in the second half of 2017 and be completed in late 2018. The CBRE team of Jerry Roberts and Patrick Boyle are leading the office leasing.
Roberts and Boyle represented Hines in the lease with Stantec. Keith Lammersen and Brian Connolly with JLL represented Stantec.
About Hines: Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 21 countries. Hines has approximately $100 billion of assets under management, including $54.5 billion for which Hines provides fiduciary investment management services, and $45.5 billion for which Hines provides third-party property-level services. The firm has 113 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,262 properties, totaling over 414 million square feet. The firm’s current property and asset management portfolio includes 529 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
About Stantec: The Stantec community unites approximately 22,000 employees working in over 400 locations across 6 continents. Our work—engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, construction services, project management, and project economics, from initial project concept and planning through to design, construction, commissioning, maintenance, decommissioning, and remediation—begins at the intersection of community, creativity, and client relationships. With a long-term commitment to the people and places we serve, Stantec has the unique ability to connect to projects on a personal level and advance the quality of life in communities across the globe. Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.
About Alliance Bank of Arizona: Alliance Bank of Arizona is a division of Western Alliance Bank, Member FDIC, the go-to bank for business in its growing markets. Founded in 2003, Alliance Bank of Arizona offers a full spectrum of deposit, lending, treasury management, international banking and online banking products and services, plus superior service to meet the needs of local businesses. With nine offices in Greater Phoenix, Tucson, and Flagstaff, along with Western Alliance Bank’s robust national platform of specialized financial services, the banking division is a valued partner for Arizona’s business, real estate, professional, municipal and nonprofit communities. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance ranks #4 on the Forbes 2017 “Best Banks in America” list. For more information, visit alliancebankofarizona.com.