GID Investment Advisers LLC announced it recently acquired the 135,535-square-foot Stellar Business Center in Chandler, Ariz.
The value of the transaction was not disclosed.
The five-building property, constructed in 2004, will be renamed Windsor at Stellar Business Center. At the time of sale, the property was 62 percent occupied and is situated on an 11.3-acre site facing Chandler Boulevard. The property is occupied by, and well suited to a wide variety of office and light industrial uses for tenants requiring 2,500-25,000 square feet. Tenants include Tokyo Electron, Dynamic Test Solutions, Guardian Protection Services, as well as a number of home-oriented showroom and sales facilities.
Rich Ross, director of Western Region Acquisitions, represented GID in the transaction and said, “Stellar Business Center is a great entry point for GID into the dynamic Phoenix metropolitan area. Furthermore, we are delighted to have an opportunity to participate in the vibrant Chandler marketplace where so much employment and population growth is occurring.”
GID’s flex/industrial portfolio has now grown to more than 3 million square feet with locations in seven markets (Atlanta, Austin, Dallas, Raleigh, Richmond, Memphis, and Philadelphia).
