Suburban Phoenix Retail Center Sold for $36Mln
CA Real Estate Journal
Chandler Heights Marketplace, a brand-new 75,597-square-foot shopping center in the Phoenix suburb of Chandler, Ariz., has been bought by an affiliate of Passco Real Estate Enterprises for $36 million.
The Irvine, Calif., company, which sponsors tenant-in-common investor groups, purchased the property from Kitchell Development Co. of Phoenix.
The shopping center, at the northwest corner of Gilbert and Chandler Heights roads, is anchored by a Bashas grocery store and includes other tenants, such as Coldstone Creamery, Great Clips, Ace Hardware, Pizza Hut and Starbucks.
REZA Investment Group Inc. of Irvine brokered the deal.