George Oliver has sold The Alexander & The Johnathan, a 218,580-square-foot pair of experiential office properties in Chandler, Ariz., for $86.5 million. JLL represented the seller and procured the buyer, Asana Partners, in the transaction.
The Alexander offers 112,070 square feet with 21,524 square feet floorplates, according to CommercialEdge data. A total of 536 parking spaces are also available in a 4.8 spaces per 1,000 square feet parking ratio. Neighborhood Loans, Nova Home Loans, American Group, First Credit Union and the Chandler Chamber of Commerce are among the building’s tenants.
The Johnathan features 107,510 square feet with 21,532 square feet floorplates, according to the same data provider. A total of 596 parking spaces are available in a 5.7 spaces per 1,000 square feet parking ratio. Tenants at The Johnathan include companies such as Ports America, Morbivity, Levementum and Homeowners Financial Group.
Added value in metro Phoenix
Originally built in 1988 and 1998, The Alexander & The Johnathan last traded in 2019, when the previous owner bought the properties for $38.8 million. Subsequently, the assets underwent renovations in 2021, when they were repositioned as experiential office space. Combined, the properties are currently 93 percent leased. Amenities include a library, outdoor gaming area, dog patio, green room, meditation room, tenant lounge and billiards room. Tenants also have access to complimentary fitness classes, a yoga studio and a fitness center.
Located at 25 South Arizona Place and 55 North Arizona Place in downtown Chandler, the assets are surrounded by a variety of dining, retail, entertainment, as well as residential options.
Last year, George Oliver sold another experiential office redevelopment—the 177,522-square-foot CASA in Phoenix’s Uptown neighborhood—for $56.5 million. The company completely upgraded the property in 2020.
Managing Director Ben Geelan, Senior Director Will Mast and Managing Director Brian Ackerman led the JLL team that brokered the transaction on behalf of the seller.