Lincoln Property acquires Phoenix-area data center for $130 million Article originally posted on CoStar on December 10, 2025 Lincoln Property Company purchased a 191,000-square-foot data center in Chandler, Arizona, from CBRE Investment Management for $130 million. The property at 2500 W. Frye Rd. is located within the Price Road technology corridor at the intersection of Loop 101 and Loop 202 freeways. Built in 1988 and situated on 14.5 acres, the facility features 28 megawatts of confirmed utility power from an on-site Salt River Project substation. The industrial property includes four data center halls, with one fully leased to a Fortune 500 enterprise user. Lincoln plans to build out the remaining three halls to add 16 megawatts of critical capacity, with an initial 4.2 megawatts targeted for delivery in early in the first quarter of 2026. The company will also transition the project from an evaporative cooled to air cooled mechanical system, potentially saving up to 3 million gallons of water monthly. “We are grateful to the City of Chandler and CBRE for their collaboration as we approached the closing of this acquisition,” said Ryan Sullivan, Lincoln Property Company executive vice president and national data center group leader. “Arizona’s unprecedented, immediate demand from hyperscale, enterprise and neocloud users has pushed local data center vacancy to record lows. This facility will add critical turnkey capacity with immediately available utility power. It’s a rare combination that we look forward to delivering as part of our ongoing value-add data center strategy.” According to CoStar records, the property last traded in July 2019 for $72.75 million. For the record Kristina Metzger, Benjamin Wobschall, Kari Fiske, Mark Krison and Dayne Jagga of CBRE represented the seller.