Park Place is a 100 acre mixed use business park located at the intersection of the Loop 202 San Tan Freeway and Loop 101 Price Freeway in Chandler Arizona. The property is located at the gateway to the Price Road corridor. The premier corporate corridor is home to Fortune 500 companies such as Wells Fargo, Toyota Finance, Charles Schwab, Intel, Orbital Sciences, and other aerospace and technology companies. The Urban Land Institute identified the property as one of the most desirable development sites in the greater Phoenix metropolitan area.
The development was planned with two Hilton branded hotels with 285 rooms and over 1.5 million square feet of Class A and garden office. Park Place Executive was planned with over 263,000 square feet of retail and office uses.
The property was developed using improvement district financing. Eight acres were sold to North Central Group for the hotels. The Douglas Allred Companies purchased all of the remaining parcels.
Project Location: Chandler, Arizona
Project Size: 100 acres
Project Type: Commercial Mixed Use (Office, Retail, Hotel)
Services Provided: Due diligence, acquisition, financial analysis, entitlements, site planning, strategic development, assessment district management, project management, construction management, community association.
Client: Cyburt Hall Partners, CH Chandler Spectrum (Citigroup, Bank of America), Park Place Property Owners Association