Full-service commercial real estate firm Lincoln Property Company (Lincoln) today announced the purchase of a 191,000-square-foot, partially occupied data center in Chandler, Arizona. The company plans to build out the facility’s vacant shell space, delivering new turnkey data center inventory and making cooling system improvements that could save millions of gallons of water monthly.

The data center property is located on 14.5 acres at 2500 W. Frye Rd., at the intersection of the Loop 101 and Loop 202 freeways, within the Price Road technology corridor.

The Frye Road property offers 28MW of confirmed utility power, served by an existing and dedicated on-site Salt River Project (SRP) substation. It features four data center halls, one of which is fully leased to a Fortune 500 enterprise user. Lincoln plans to fit out the remaining three halls, adding 16MW of critical capacity and positioning the building for immediate lease-up. An initial 4.2MW is targeted for delivery in early Q1 2026.

Lincoln will also transition the project from an evaporative cooled to air cooled mechanical system, creating the potential for up to 3 million gallons of water savings per month for the City of Chandler. The site is planned for additional development, which was approved by the City of Chandler as part of a development agreement initiated by the property’s previous owner.

“We are grateful to the City of Chandler and CBRE for their collaboration as we approached the closing of this acquisition,” said Lincoln Property Company Executive Vice President and National Data Center Group Leader Ryan Sullivan. “Arizona’s unprecedented, immediate demand from hyperscale, enterprise and neocloud users has pushed local data center vacancy to record lows. This facility will add critical turnkey capacity with immediately available utility power. It’s a rare combination that we look forward to delivering as part of our ongoing value-add data center strategy.”

Kristina Metzger, Ben Wobschall and Mark Krison of CBRE represented the seller in the Frye Road facility sale. Lincoln will serve as the building’s property manager. Leasing will be handled by Lincoln’s data center leasing team.

Lincoln has a unique history at the Frye Road property, serving as its owner after acquiring the building in 2018 as part of a larger data center portfolio. It sold the asset in 2019 to the current seller.

“We originally purchased and managed this facility to achieve its highest and best use,” said Lincoln Property Company Senior Executive Vice President David Krumwiede. “When we sold the asset, it was to an entity that was equally committed to preserving and enhancing its value. Now, it is our turn to set yet another performance bar for tenants and the Chandler market, at a time when the need for responsible data center space couldn’t be higher.”

According to CBRE, metro Phoenix ranks as the nation’s fourth largest data center market, with steady demand and absorption pushing vacancy rates below 2%.

The Frye Road facility adds to that new data center inventory, bringing Lincoln’s robust metro Phoenix footprint to 23.2 million square feet of owned and managed space across Class A office and industrial projects such as Park303, Luke Field, Goodyear AirPark, Union and the Grand at Papago Park Center.

For leasing at 2500 W. Frye, contact Lincoln Property Company Director of Data Center Leasing, Rob Doretti at rob.doretti@lpc.com.

To discuss ongoing development, acquisition, property management or leasing opportunities with Lincoln in metro Phoenix, call David Krumwiede or John Orsak at (602) 912-8888.

About Lincoln Property Company

Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-use properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 680 million square feet of commercial space. For more information, visit: www.lpc.com.

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