Chandler, AZ - Office Market Overview
The Chandler real estate market includes the Chandler Airport, College Park, and Lone Butte Ranch office space submarkets. While the City of Chandler is home to just under 250,000 residents, it is also part of the Greater Phoenix Metro Area, which is home to over 4.5 million people. A diverse mix of business and industry create consistent demand for Class A office space in Chandler, Ariz.
As of mid-2017, the Chandler office market encompasses nearly 7 million square feet of existing office space in properties larger than 50,000 square feet. Adjacent to both Mesa and Tempe, the demand for commercial real estate in Chandler is driven in large part by the numerous high technology companies that are located in the area.
Chandler, AZ - Office Inventory Description
With companies such as Intel and Orbital ATK within the city limits, the demand for office space in Chandler remains strong and steady. Over 56% of the office space in Chandler in buildings larger than 50,000 square feet is Class A or A+, while Class B property adds another 43% of inventory to the office market in Chandler.
One of the submarkets in Chandler that sees consistently robust demand for space is The Springs office market. Located south of the Santan Freeway (State Route 202) between South Gilbert Road and South McQueen Road, this area is home to newer, Class A office buildings such as the Chandler Airport Center II, the Mach One I office building, and the Allred Airport Center II at 2150 East Germann Road.
Chandler, AZ Commercial Inventory Breakdown
Total: 15,070,750 SF
By square footage range:
- 50k to 100k SF: 3,464,169 SF / 22.99% of total office
- 100k to 500k SF: 11,006,581 SF / 73.03% of total office
- 500k to 1M SF: 600,000 SF / 3.98% of total office
- Class A: 5,197,308 SF / 34.49% of total office
- Class B: 3,935,210 SF / 26.11% of total office
- Class C: 238,783 SF / 1.58% of total office
Chandler, AZ - Green Office Space
In a desert climate region like Southwestern Arizona, the advantages of energy-efficient, green office space are becoming abundantly clear. Nearly 13% of the office buildings in Chandler larger than 50,000 square feet are considered green, contributing almost 1.2 million square feet of green office space to Chandler's office market.
A great example of a LEED-certified office building in Chandler is the Chandler Corporate Center I. With nearly 68,000 square feet of office space, this property is located in the Twelve Oaks commmercial real estate submarket, was built in 2008 and holds a LEED Silver certification.
As part of the Phoenix metro area, Chandler has helped to make the Phoenix market 21st for green office space among the top 30 office markets in the U.S. The most recent National Green Building Adoption Index (2017) has noted that over the past 12 years, the percentage of green office space in these top markets has increased by nearly 33%.
Chandler, AZ's Top Office-Using Sectors
The Chandler office market sees consistent demand for space from a variety of top office-using sectors, including healthcare, high technology & aerospace, financial services, and light manufacturing.
- Healthcare – Organizations such as the Chandler Regional Medical Center, Apria Healthcare, Healthways, and Oasis Behavioral Health Hospital help to create demand for white-collar office space in Chandler.
- High Technology & Aerospace – Intel, Verizon Wireless, NXP, Orbital ATK, and Microchip Technology are a few of the top office-using companies in this sector.
- Financial Services – Wells Fargo, Bank of America, and PayPal generate white-collar office employment in Chandler.
- Light Manufacturing – Avnet, Arizona Nutritional Supplements, Pearson Education, and Ultra Clean Technology are just four of the many companies that create demand for commercial real estate in Chandler.
- Total Population245,160
- Male Population(49.6 %) 121,703
- Female Population(50.4 %) 123,457
- Median Age35.30
- Average Household Income$97,033
- Median Household Income$77,278
- Median Income Under 25$36,086
- Median Income 25-44$83,155
- Median Income 45-64$91,103
- Median Income Over 65$50,443
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