Dobson Town Place in South Chandler sells for $10.3M

Dobson Town Place, a 44,000 square-foot single-story medical and professional office in south Chandler, sold today for $10,300,000 or $232 per square foot. James “J.T.” Taylor of ORION Investment Real Estate represented the Seller, Off Five LLC, in the transaction. The Buyer, Stratton Road Realty LLC, is expanding their footprint in the Phoenix market and view Dobson Town Place as a strategic acquisition that is 1 mile away f rom Intel’s Campus that is due to receive a $20Bil investment and a short distance f rom the new Banner Ocotillo Medical Center in Chandler. Stratton Road Realty LLC is headquartered in Irvine, CA and was represented by Ken Elmer of Commercial Properties Inc.

Dobson Town Place was developed in 2007-08 and was actively operated by the seller for

more than a decade. The property is 100% occupied as of the close of escrow, leased to a mix of medical, professional off ice, and retail tenants on NNN leases. The tenants benefit f rom the property’s strong location in south Chandler. Chandler is Phoenix’s Fastest Growing Employment Hub and magnet for signif icant off ice relocations and expansions. Prominent companies such as Intel, Allstate, Wells Fargo, Northrop Grumman, CVS Aetna, Deloitte, and Bridgepoint Education are just a few that call Chandler home

“This property was highly sought after due to its high demographic location in south Chandler, its tenant mix and quality of construction” says J.T. Taylor who represented the sellers in the transaction and will stay on as the property’s leasing agent for the buyer. The sellers, who had an active role in developing and operating Dobson Town Place for the last 13 years, were gratified by the interest they received and that the buyer, Stratton Road Realty LLC, has tremendous experience to professionally operate the seller’s namesake property so its tenants can continue to serve the Chandler community.

Find The Complete Article Here: https://azbigmedia.com/real-estate/big-deals/2-chandler-real-estate-complexes-are-sold-in-separate-deals/