Just Financed: Chandler Innovation Park

Essex Real Estate Capital Advisors Secures $46 Million Loan for Chandler Innovation Park, a 327,776 SF Class A Industrial Development in Chandler, Arizona

Chandler, AZ – 7/17/2025 – Essex Real Estate Capital Advisors (Essex) announces that it has successfully secured a $46 million construction loan for Chandler Innovation Park, a 327,776-square-foot Class A speculative industrial development in Chandler, Arizona. The Essex team for this loan was led by SVP Blaire Butler and Associate Matt Perigard. The Sponsor, DPC Development Companies, is a privately held, Colorado-based real estate acquisition and development firm with industrial, office, and retail holdings across the Rocky Mountain and Sun Belt regions. The loan was secured through Principal Asset Management, an institutional, life insurance company lender based in Des Moines, Iowa. The $46M loan is a “participating construction loan,” which is a unique product that Principal offers featuring a higher leverage construction loan with lender profit participation at the time of exit. It acts as a hybrid debt / equity instrument.

Chandler Innovation Park will be developed on 21.38 acres near the intersection of Arizona Ave and Germann Rd, approximately 1 mile west of the Chandler airport. The development is a part of the Chandler Innovation District, a city area plan designed to align land uses and developments with attracting top-tier innovation and manufacturing employers. The project will include three front-park, rear-load buildings designed for manufacturing and logistics users, with varying demising capabilities:

• Building 1: 39,387 SF, with frontage along Arizona Ave

• Building 2: 99,222 SF
• Building 3: 189,167 SF

Chandler Innovation Park will add top quality, efficient industrial product to a high-barrier submarket while supporting job creation and economic growth in the East Valley. Its location provides excellent access to Loop 202, I-10, Phoenix-Mesa Gateway Airport, and Sky Harbor International Airport. Chandler’s strong base of technology and manufacturing companies further enhances its appeal to advanced manufacturing, logistics, and supply chain tenants.

Construction began in July 2025 and is scheduled to be completed in August 2026. The GC on the project is Alcorn Construction and a Lee & Associates’ team will lease the project. The project will target tenants seeking flexible layouts, high clear heights, and modern distribution capabilities.

About DPC Development Companies
DPC Development Companies is a privately held, Colorado-based commercial real estate firm founded in 1986. With current holdings of 2.5 million square feet of office, retail, and industrial projects, DPC is committed to value-driven development, strong partner relationships, and community-centered growth. This is demonstrated through their 35+ year track record.

About Essex Real Estate Capital Advisors
Essex Real Estate Capital is a capital advisory firm specializing in debt and equity placements for commercial real estate projects nationwide. Essex places capital with all different lending sources, with a particular specialty in life insurance company lending. The firm leverages deep lender relationships and market expertise to deliver customized financing solutions for complex developments.

Media Contact:
Blaire Butler
Senior Vice President
Essex Real Estate Capital Advisors
bbutler@essexreca.com | 303.843.4024