The land was purchased by Kitchell Development Company for more than $213,000 per acre. The close of escrow was Aug. 20. Four local sellers were represented by Sean Lieb, vice president of SRS, and Kitchell was represented by Andrew Brigham, vice president of CBRE.
“The listing generated multiple offers from interested buyers,” said Lieb. “Chandler Airpark is a high-growth area, and has become a very attractive location for commercial development in the Southeast Valley.”
There is an 8.7 percent projected population growth within one mile of the site. Chandler Airpark has a growing daytime population of 465,000 people within a 15-minute commute and nearly 1.8 million people within a 30-minute commute.
The parcel sits a half-mile south of the Loop 202 Santan Freeway and less than one mile from Chandler Municipal Airport. It was rezoned in May 2020 from an undeveloped agricultural district to Planned Area Development (PAD) for planned industrial (I-1) uses with ancillary office and retail. This falls within the Chandler Airpark Area Plan (CAAP), which designates the site as light industrial.