Orbital Sciences Building Sells For $19,500,000

VIZZDA – October 10, 2010 –Paramount Group of Companies, has acquired the Orbital Sciences Building at 3377 S Price Rd in Chandler for $19,500,000 or $234.42 per square foot with the assumption of a $12,594,819 debt with Sovereign Bank of Rhode Island.

The seller, Gilbane Development, along with McShane Construction, received an award from NAIOP in 2009 for Office Build to Suit for tenant Orbital Sciences Corporation of Dulles, Virginia.  The 83,183 SF three story office building is class A with LEED Silver Certification, 322 offices, and a dramatic entryway.  

The seller Matthew Lawrence senior vice president of Gilbane and Samir Sawhney president of Paramount Group closed the deal. Paramount also acquired an office building in Surprise earlier this week, read about that here.

Edward Moore
Director of Research

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