{"id":1004050455,"date":"2012-10-17T08:53:42","date_gmt":"2012-10-17T16:53:42","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=74022"},"modified":"2022-12-03T06:48:14","modified_gmt":"2022-12-03T14:48:14","slug":"allred-starts-2nd-spec-project-of-2013-at-chandler-office-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\/","title":{"rendered":"Allred Starts 2nd Spec Project of 2013 at Chandler Office Park"},"content":{"rendered":"<p>By Camelia Bulea, Associate Editor<\/p>\n<p>Construction is in full swing on the latest addition to the Allred Park Place office park in Chandler&#8211;a 69,000-square-foot speculative <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/allred-park-place.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-74023\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/allred-park-place.jpg\" alt=\"\" width=\"300\" height=\"199\" \/><\/a>office building.<\/p>\n<p>The development, which broke ground in August, is the second spec building launched at the office park by Douglas Allred Co. this year, according to the <em>Phoenix Business Journal. <\/em>Allred previously broke ground on a 92,109-square-foot office building, which has since been leased to Infusionsoft and is scheduled for completion by the end of the year, the <em>Business Journal <\/em>reported.<\/p>\n<p>Leasing for the latest project will be handled by Mark Krison and Scott German of CBRE Group Inc., <em>Arizona Commercial Real Estate <\/em>reported.\u00a0\u00a0Mesa-based Willmeng Construction is serving as general contractor for both new buildings, which were designed by Phoenix-based Balmer Architectural Group.<\/p>\n<p>Allred Park Place currrently consists of four Class A office buildings, totaling nearly 354,000 square feet, with an occupancy rate of 90 percent. Allred&#8217;s plan could eventually expand the business park&#8217;s footprint to upwards of 1 million square feet.<\/p>\n<p>A recent report from Marcus &amp; Millichap Real Estate Investment Services Inc.\u00a0shows that a shortage\u00a0of large, contiguous blocks of Class A space in Greater Phoenix has prompted developers to break ground on high-end projects totaling 540,000 square feet, including the two projects under way at Allred Park Place.<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/phoeoff1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-74027\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/phoeoff1.jpg\" alt=\"\" width=\"300\" height=\"300\" \/><\/a><\/p>\n<p>As illustrated by the chart at left, Marcus &amp; Millichap\u00a0projects that by the end of the year, metro Phoenix\u2019s office market will gain 200,000 square feet of new product,\u00a0which will boost inventory by 0.3 percent.<\/p>\n<p><em>Photo courtesy of CBRE Group Inc. <\/em><\/p>\n<p><em>Chart courtesy of Marcus &amp; Millichap Real Estate Investment Services Inc. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Construction is in full swing on the latest addition to the Allred Park Place office park in Chandler&#8211;a 69,000-square-foot speculative office building. The development, which broke ground in August, is the second spec building launched at the office park by Douglas Allred Co. this year, according to the Phoenix Business Journal.<\/p>\n","protected":false},"author":271,"featured_media":1004506412,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1601],"tags":[],"class_list":["post-1004050455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-phoenix"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Allred Starts 2nd Spec Project of 2013 at Chandler Office Park - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allred Starts 2nd Spec Project of 2013 at Chandler Office Park\" \/>\n<meta property=\"og:description\" content=\"Construction is in full swing on the latest addition to the Allred Park Place office park in Chandler--a 69,000-square-foot speculative office building. The development, which broke ground in August, is the second spec building launched at the office park by Douglas Allred Co. this year, according to the Phoenix Business Journal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-10-17T16:53:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T14:48:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/allred-park-place.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Camelia Bulea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\\\/\"},\"author\":{\"name\":\"Camelia Bulea\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/71754b36bc1882cf2fc692fe215d26c7\"},\"headline\":\"Allred Starts 2nd Spec Project of 2013 at Chandler Office Park\",\"datePublished\":\"2012-10-17T16:53:42+00:00\",\"dateModified\":\"2022-12-03T14:48:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\\\/\"},\"wordCount\":281,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/allred-park-place.jpg\",\"articleSection\":[\"News\",\"Phoenix\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/allred-starts-2nd-spec-project-of-2013-at-chandler-office-park\\\/\",\"name\":\"Allred Starts 2nd Spec Project of 2013 at Chandler Office Park - 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