{"id":1004109636,"date":"2014-12-17T12:53:39","date_gmt":"2014-12-17T20:53:39","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=313235"},"modified":"2022-12-08T21:11:24","modified_gmt":"2022-12-09T05:11:24","slug":"douglas-allred-plans-3-projects-in-chandler-regent-properties-pays-58-6m-for-paradise-valley-office-asset-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/douglas-allred-plans-3-projects-in-chandler-regent-properties-pays-58-6m-for-paradise-valley-office-asset-2\/","title":{"rendered":"Douglas Allred Plans 3 Projects in Chandler; Regent Properties Pays $58.6M for Paradise Valley Office Asset"},"content":{"rendered":"<p><em>By Liviu Oltean, Associate Editor<\/em><\/p>\n<div id=\"attachment_313236\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/Park-Place.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-313236\" title=\"Park Place\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/Park-Place.jpg\" alt=\"\" width=\"300\" height=\"156\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Park Place<\/p>\n<\/div>\n<p>Douglas Allred Co. is ready to move forward with three new projects in Park Place, a 150-acre, mixed-use development in Chandler&#8217;s Price Road Corridor.\u00a0 The San Diego-based firm plans to add an eight-story, 210-key Drury Inn &amp; Suites, a retail and restaurant project and a 92,000-square-foot Class A office building.<\/p>\n<p>\u201cWe are so excited to develop a new flagship hotel in the Park Place office park,\u201d said Larry Hasselfield, chief financial officer with Drury Inn &amp; Suites, in a statement. \u201cThe Chandler location in the center of the Price Road Corridor with immediate freeway access and visibility is unbeatable.\u201d<\/p>\n<p>Allred has already started work on the retail and restaurant component, which will comprise two buildings within walking distance of the future Drury Hotel site. Upon build-out, the restaurant portion will add up to 10,000 square feet, not counting patios.<\/p>\n<p>Construction of the new hotel is slated to start during the third quarter of 2015 with completion scheduled for early 2017. It will be developed on a tract near the 101 and 202 interchange, south of Chandler Fashion Mall. The third project, a modern office building, will break ground soon and will be finished in July, 2015.<\/p>\n<p>In other regional news, Regent Properties has acquired Desert Ridge Corporate Center,a\u00a0mixed-use property located in the Paradise Valley submarket, for $58.6 million. CBRE Group Inc.arranged the sale.<\/p>\n<p>Totaling 293,161 square feet, Desert Ridge Corporate Center consists of two Class A office buildings and a 17,953-square-foot, multi-tenant retail building. It was developed in 2007 and is minutes away from the 1.2 million-square-foot Desert Ridge Marketplace and the 628,000-square-foot High Street development.<\/p>\n<p>\u201cDesert Ridge fits perfectly within our strategy of buying value-added office properties across the western United States,\u201d said Eric Fleiss, president of Regent Properties. \u201cWe are committed, experienced investors in the Phoenix market specifically, and believe this high-quality asset is a great addition to our portfolio.\u201d<\/p>\n<p><em>Image Courtesy of CBRE and Douglas Allred Company<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Douglas Allred Company, a San Diego-based real estate firm, is ready to move forward with three new projects in Park Place, a 150-acre, mixed-use development located in the Price Road Corridor in Chandler.  The company plans to add a new, eight-story, 210-room Drury Inn &amp; Suites hotel, a retail and restaurant project and a 92,000-square-foot, Class A office building.<\/p>\n","protected":false},"author":1158,"featured_media":0,"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-1004109636","post","type-post","status-publish","format-standard","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>Douglas Allred Plans 3 Projects in Chandler; Regent Properties Pays $58.6M for Paradise Valley Office Asset - 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\/douglas-allred-plans-3-projects-in-chandler-regent-properties-pays-58-6m-for-paradise-valley-office-asset-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Douglas Allred Plans 3 Projects in Chandler; Regent Properties Pays $58.6M for Paradise Valley Office Asset\" \/>\n<meta property=\"og:description\" content=\"Douglas Allred Company, a San Diego-based real estate firm, is ready to move forward with three new projects in Park Place, a 150-acre, mixed-use development located in the Price Road Corridor in Chandler. The company plans to add a new, eight-story, 210-room Drury Inn &amp; Suites hotel, a retail and restaurant project and a 92,000-square-foot, Class A office building.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/douglas-allred-plans-3-projects-in-chandler-regent-properties-pays-58-6m-for-paradise-valley-office-asset-2\/\" \/>\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=\"2014-12-17T20:53:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:11:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/Park-Place.jpg\" \/>\n<meta name=\"author\" content=\"Liviu Oltean\" \/>\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\\\/douglas-allred-plans-3-projects-in-chandler-regent-properties-pays-58-6m-for-paradise-valley-office-asset-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/douglas-allred-plans-3-projects-in-chandler-regent-properties-pays-58-6m-for-paradise-valley-office-asset-2\\\/\"},\"author\":{\"name\":\"Liviu Oltean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/a12696609e74785a9cb5f8f7eae8bbd0\"},\"headline\":\"Douglas Allred Plans 3 Projects in Chandler; 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