Chandler industrial shows up along the Loop 202 and in the south Chandler employment areas that serve distribution for the southeast Valley, plus smaller flex that is not a Price Road office tower. Bay size and tenant credit decide the box. Life company and bank are the permanent paths. CMBS is the stretch. Bridge is for a vacant bay or a contract date. Fannie Mae does not finance warehouses.
Do not relabel the Chandler office bridge as industrial because the building has a loading area. The card says office, Class A, about 83,178 square feet, $14,000,000, 2019. The 2022 card is owner-user office, $15,600,000. Phoenix industrial is a different city: dual-tenant, $5,000,000, life company. Airpark flex is Scottsdale. Arizona industrial is where those industrial cards live.
Office corridor versus a Chandler warehouse
Price Road is where our published Chandler proof sits, and that proof is office. A south Chandler distribution building is a new credit discussion. We will not quote it as if the 2019 bridge leverage transferred.
Owner-user Chandler industrial, a sponsor who occupies the bay, is often a bank conversation. The 2022 office card was owner-user with a coworking tenant. That fact does not make the next industrial file owner-user. The lease has to say so.
Not a construction loan and not agency
A Chandler building still in shell condition is not a permanent industrial loan. Bridge can fund a transitional plan with a takeout. Ground-up draws are arranged on the Chandler construction page, with the lender funding the inspections.
We are not a Fannie Mae DUS lender. That denial matters on apartments. On this page it also stops a warehouse from being dressed up as an agency asset.
Chandler North and the Gilbert line
Chandler North / Gilbert is the broker name for the large industrial area along the city line, flex and warehouse, not the Price Road office parks. A building on the Chandler side and a building on the Gilbert side can face each other and still be two cities. This page is the Chandler industrial reading of that belt.
Chandler industrial: Industrial underwriting, in the order it is read
The Price Road corridor is the Chandler office submarket already named on the two published Chandler originations. A Price Road office loan is not a Chandler apartment loan and not a Mesa loan. Source: City of Chandler.
Tenant and term
Credit tenant, multi-tenant, or owner-user changes the source. Life company and bank want a lease roll they can hold. CMBS is the stretch when proceeds or structure will not fit those boxes.
Not an agency program
Fannie Mae and Freddie Mac are multifamily. A warehouse does not become an agency loan because it is in a logistics city.
Capital for Chandler industrial
| Source | When it fits |
|---|---|
| Life company | Stabilized Chandler warehouse or flex. Not the Price Road office bridge. |
| Bank and credit union | Portfolio or owner-user Chandler industrial. |
| CMBS | When Chandler proceeds need the conduit. |
| Bridge | A dark bay or a closing date. Not the 2019 office bridge. |