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November 27, 2020
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Evergreen Devco Inc Buys 164k sf AZ Retail Center


Evergreen Devco Inc has purchased Chandler Pavilions, a 163.6k sf, high-traffic, value-add, regional retail center located in Chandler, AZ. The price was not given out.

Situated on 17.97 acres at 800-890 N. 54th St, the center is adjacent to I-10. The property is 72% leased to a complementary mix of top-tier national and regional tenants and is shadow anchored by a grocery tenant.

The property was sold by Invesco Real Estate, a global real estate investment manager. Evergreen Devco acquired the asset in cash, free and clear of any debt.

Chandler Pavilions welcomes approximately three million visitors annually and is in the top 10% of busiest retail centers in Arizona. It is located just off Ray Rd, which has traffic counts of approximately 40,000 vehicles per day. Additionally, Chandler Pavilionsí location in a dense, affluent area puts it within 96,135 residents earning an average annual household income of nearly $110,000 living within a three-mile radius.

Patrick Dempsey and Gleb Lvovich with JLL Retail Capital Markets team represented the seller in the deal.

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