{"id":1004746201,"date":"2025-02-06T07:19:36","date_gmt":"2025-02-06T15:19:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004746201"},"modified":"2025-02-06T07:19:37","modified_gmt":"2025-02-06T15:19:37","slug":"ryan-cos-jv-starts-office-to-industrial-conversion-in-phoenix","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ryan-cos-jv-starts-office-to-industrial-conversion-in-phoenix\/","title":{"rendered":"Ryan Cos. JV Starts Office-to-Industrial Conversion in Phoenix"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Chandler-Freeways-Rendering-1-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1440\" height=\"1080\" data-attachment-id=\"1004746203\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ryan-cos-jv-starts-office-to-industrial-conversion-in-phoenix\/chandler-freeways-rendering-1-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Chandler-Freeways-Rendering-1-1.jpg\" data-orig-size=\"1440,1080\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Chandler Freeways Rendering 1 (1)\" data-image-description=\"&lt;p&gt;Property at 6955 W. Morelos, Chandler, Ariz.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The development crew expects completion this year. Rendering courtesy of Ryan Cos.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Chandler-Freeways-Rendering-1-1.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Chandler-Freeways-Rendering-1-1.jpg\" alt=\"Rendering of one of the upcoming industrial facilities in the Chandler Freeways Business Park in Chandler, Ariz.\" class=\"wp-image-1004746203\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Chandler-Freeways-Rendering-1-1.jpg 1440w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Chandler-Freeways-Rendering-1-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Chandler-Freeways-Rendering-1-1.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Chandler-Freeways-Rendering-1-1.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1440px) 100vw, 1440px\" \/><\/a><figcaption class=\"wp-element-caption\">The development crew expects completion this year. <em>Rendering courtesy of Ryan Cos.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture of Ryan Cos. and Alidade Capital has broken ground on Chandler Freeways Business Park, a 190,475-square-foot industrial development in Chandler, Ariz. The duo will convert a 175,654-square-foot existing office building as part of the project. Completion is scheduled for the fourth quarter this year.<\/p>\n\n\n\n<p>Plans call for the conversion of the two-story office building into an 87,600-square-foot, single-story industrial facility. Additionally, the developers will build a second, 102,875-square-foot industrial asset.\u00a0Butler Design Group provided design services.<\/p>\n\n\n\n<p>Chandler Freeways Business Park will feature clear heights between 28 and 32 feet, speed bays ranging from 40 to 60 feet, as well as a total of 26 dock-high doors and 11 grade-level doors.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-development-remains-fast-paced\/\">Phoenix Industrial Development Remains Fast-Paced<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The development is taking shape at 6955 W. Morelos Place, less than 1 mile from Highway 202 and about 19 miles southeast of downtown Phoenix. The Phoenix Sky Harbor International Airport operates 12 miles away.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-ryan-cos-office-to-industrial-ventures\">Ryan Cos.&#8217; office-to-industrial ventures<\/h2>\n\n\n\n<p>In November 2024, Ryan purchased the office property for $16.8 million from Landwin Management Co. Verizon had leased the asset since 2004. The office building didn\u2019t start out as such. It was originally built as an industrial facility and later converted into an office building. Now, due to its <a href=\"https:\/\/www.commercialsearch.com\/news\/designing-buildings-with-conversion-in-mind\/\">conversion-minded design<\/a>, it\u2019s slated to go back to its initial usage.<\/p>\n\n\n\n<p>This isn\u2019t the first time Ryan and Alidade partnered to turn office into industrial in metro Phoenix. The duo joined forces last June to redevelop the 128,048-square-foot Red Mountain Corporate Center in Phoenix into Innovate48, a 163,000-square-foot industrial facility. Completion is expected next quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-metro-phoenix-industrial-completions-hit-a-new-record\">Metro Phoenix industrial completions hit a new record<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-deliveries\/\">Industrial completions<\/a> skyrocketed last year, with 42.9 million square feet brought online across metro Phoenix, setting a new record, according to a Cushman &amp; Wakefield report. The supply glut led to seven consecutive quarters of vacancy increases, bringing it up to 12.7 percent in December.<\/p>\n\n\n\n<p>Several projects wrapped up during the last quarter. Rockefeller Group <a href=\"https:\/\/www.commercialsearch.com\/news\/rockefeller-group-wraps-phoenix-area-project\/\">completed a 418,400-square-foot distribution center<\/a> in Surprise, Ariz., while Thompson Thrift brought online the 400,000-square-foot first phase of the <a href=\"https:\/\/www.commercialsearch.com\/news\/thompson-thrift-completes-1st-phase-of-1-msf-phoenix-project\/\">Germann Commerce Center<\/a> in Phoenix.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This office building originally started off as industrial and now it\u2019s slated to go back to its previous use.<\/p>\n","protected":false},"author":3471,"featured_media":1004746203,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,1601,15],"tags":[38006,47462],"class_list":["post-1004746201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-phoenix","category-west","tag-butler-design-group","tag-ryan-cos"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ryan Cos. JV Starts Office-to-Industrial Conversion in Phoenix - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Ryan Cos., Alidade Capital kicked off work on Chandler Freeways Business Park, an office-to-industrial conversion in Greater Phoenix.\" \/>\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\/ryan-cos-jv-starts-office-to-industrial-conversion-in-phoenix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ryan Cos. 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