JLL sells Chandler Pavilions for $28.975 million – Arizona Big Media

HomeReal EstateJLL sells Chandler Pavilions for $28.975 million
JLL Capital Markets announced today it has closed the $28.975 million sale of Chandler Pavilions, a fully leased 163,286-square-foot, high-traffic regional retail center in the Phoenix-area community of Chandler, Arizona.
JLL marketed the property on behalf of the seller, Evergreen Devco, Inc., which acquired the center in 2020 in a JLL-brokered sale. Schnitzer Properties acquired the asset.
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Chandler Pavilions is fully leased to a slate of investment-grade retailers, including Sportsman’s Warehouse, Golf Galaxy and Chipotle. One of the busiest retail centers in Arizona, the center is also home to Cost Plus World Market, REI, Mountain Mikes and Jimmy John’s.
Positioned on nearly 18 acres at 800-890 N. 54th St., the center’s highly visible location is adjacent to Interstate 10, which exposes the property to more than 156,600 vehicles per day, and just off Ray Road, which sees 42,200 vehicles per day. Additionally, Chandler Pavilion is in a dense, infill and affluent area with 161,654 residents earning an average annual household income of nearly $108,087 within a 10-minute drive.
The JLL Retail Capital Markets team representing the seller was led by Managing Directors Patrick Dempsey and Gleb Lvovich and Associate Patrick Anthon.
“Chandler Pavilions is an excellent example of a successful shopping center in an irreplaceable location,” Dempsey said. “REI, Sportsman’s Warehouse, Golf Galaxy and the quick serve restaurants define this Class A retail property. JLL is pleased to have facilitated this successful transaction for the buyer and seller.”
“The sale of Chandler Pavilions represents our team’s collaborative approach in sourcing unique capital for retail opportunities in the Western U.S.,” Lvovich added. “We are excited to help the buyer make their first retail acquisition in Arizona, complementing their growing flex industrial and development assets in the area.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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