Irgens acquired Portico Place, a 41,000 square foot, two-story, multi-tenant Class A office building in Chandler, Arizona, one of Phoenix’s most active commercial sub-markets. At the time of acquisition, Portico Place was 65% leased to various highly regarded national and regional credit tenants. After a capital investment to common areas and dedicated leasing efforts, Portico Place became 100% occupied.

Recognizing high barriers of entry for new ground-up developments in the greater Chandler submarket, Irgens negotiated the adjacent pad site to be included in the acquisition for a future two-story, 48,000 square foot, commercial office development. Irgens recognized the market demand for smaller tenant business requirements and these users drove the launch of a second 48,000 square feet of space.