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September 20, 2018
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Newly Developed AZ Neighborhood Center Sells for $450/sf

12/20/17

The Plant, a 56.8k sf, Sprouts Farmers Market-anchored neighborhood shopping center in Chandler, AZ, was acquired by Dallas-based Sarofim Realty Advisors for $25.75 mil ($453/sf). Located on the southeast corner of Gilbert and Ocotillo Roads, the property was sold by Phoenix-based Common Bond Development Group.

Anchored by Sprouts Farmers Market, The Plant is a newly developed neighborhood shopping center spanning 7.59 acres. It is currently 100% leased to a complimentary collection of national, regional and local tenants. Approximately 81% of the Plant is leased to top-tier national tenants, including Dairy Queen, Café Rio and Starbucks.

Ryan Schubert and Michael Hackett with Cushman & Wakefield represented the seller in the transaction.





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