Douglas Allred Company Underway With 69k Sf Chandler Spec Office Building
Photo Credit: CBRE
The shortage of Class A office space in the metro is being chipped away once again with Douglas Allred Company building a 68.9K SF spec office building at Allred Park Place. This is Allred’s second spec building in the office park. The first spec building, 92K SF, was under construction when it was leased to Infusionsoft earlier this summer. Balmer Architecture Group handled the design for both and Willmeng Construction is the GC. Completion is slated for May 2013.
David Allred, the firm’s executive vice president says that strong demand and pre-leasing of the first building encouraged the firm to start the next project. Allred Park Place has four Class A buildings with nearly 354K SF of office space and a less than ten percent vacancy rate. The new buildings put the park at over 500K SF. CBRE handle office park leasing.
CBRE’s Mark Krison said, “The Southeast Valley leads the market in terms of absorption, with nearly 350KSF through mid-year. While demand and supply are high, there are very few new, class A office projects available in the area.”
Future plans for Allred Park Place include construction of several additional office buildings, which will eventually exceed 1M SF.