California Investment Firm Takes Chandler Iridium Facility for $12.7 Million

CHANDLER, Ariz. - Aug. 28, 2014 - PRLog -- A 69,429 SF flex manufacturing facility and an adjacent 2.97 AC parcel at 1800 S. Price Rd. in Chandler has been sold for $12,650,000. The building is fully-leased to Iridium Communications with an estimated 10 years remaining on their lease.

Cohen Asset Management, Inc., a California-based private real estate investment firm purchased the building from Abart Properties Corp. of Scottsdale. Lee & Associates Arizona Principals Rick Lee and Andy Ogan represented Cohen. Bret Angner with Nova Management represented Abart in the transaction.

The building is located in one of the Valley’s best commercial real estate areas. Chandler’s Price Corridor is home to notable companies such as Intel Corp., Motorola, PayPal, Orbital Sciences, eBay, Amkor Electronics, Charles Shwalb and General Motors. The area is served by the Loop 101 and Loop 202 freeways with easy access to the entire Valley.

Iridium Communications, based in McLean, Virginia, is a mobile satellite communications company providing voice and data solutions worldwide. It is the only company of its kind that spans the entire globe.

For more information:

Rick Lee, Principal
602.954.3742
rlee@leearizona.com

Andy Ogan, Principal
602.474-9565
aogan@leearizona.com