Rockefeller Group Buys Chandler Site

Sun, 03/06/2011 - 00:00 -- Jeff

Chandler - A division of The Rockefeller Group in New York City plans to develop almost 250,000 sq. ft. of office condominiums and flex space within Chandler Corporate Center North in Chandler. The buyer of the property was a company formed by Rockefeller Group Development Corp. (Jonathan D. Green, CEO), a subsidiary of The Rockefeller Group. The company paid just under $11.1 million to buy the developed lots. The sellers in two transactions were companies formed by Randy Stolworthy of RRS & Co. in Phoenix and Dave Sellers of LGE Corp. in Phoenix. The deal was negotiated through Paul Sieczkowski and Rob Martensen of Colliers International in Phoenix. The 24.28-acre site, comprised of six lots, is located just north of Chandler Boulevard and along the west side of McClintock Drive. The six finished lots acquired by Rockefeller Group Development are targeted for four office condominium structures, three flex buildings and one for lease office. Design of the structures is being handled by Patrick Hayes Architecture in Scottsdale and DFD CornoyerHedrick in Phoenix. LGE Corp. is serving as contractor. The Colliers agents are marketing. The planned development is the second in Chandler for Rockefeller Development Group. Last August, BREW reported the company paying $21.445 million to acquire a 75+ acre parcel at the northwest corner of Gilbert and Queen Creek roads. That property is targeted for an office-industrial project. Rockefeller Group Development owns, develops and manages commercial real estate properties in New York, New Jersey, Florida, Illinois and California. The Rockefeller Group is a wholly-owned subsidiary of Mitsubishi Estate Co. Ltd., one of the world's largest real estate investment and development companies. Rockefeller Development Group acquired 6 of 14 lots owned by Stolworthy and Sellers within Chandler Corporate Center North. The company has 6 lots that are still available. The lots range from 2.28 acres to 6.5 acres. The RRS & Co./LGE Corp. venture is looking for build-to-suit opportunities. Tom McCormick, v.p. for Rockefeller Group Development Corp. in Irvine, Calif., is the contact for the company . . . call him at (949) 468-1800. The contact at RRS & Co. is John Forrester . . . reach him and Stolworthy at (602) 553-0082. Sellers is at (480) 966-4001. Sieczkowski and Martensen are at (602) 222-5000.