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August 16, 2022
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Schnitzer Properties Buys 163k sf AZ Retail Center

7/20/22

Schnitzer Properties paid $29 mil for Chandler Pavilions, a fully leased, 163.3k sf ($178/sf), high-traffic regional retail center in the Phoenix-area community of Chandler. The property was sold by Evergreen Devco Inc, which acquired the center in 2020.

Chandler Pavilions is fully leased to a slate of investment-grade retailers, including Sportsmanís 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 Johnís.

Positioned on nearly 18 acres at 800-890 N. 54th St, the centerís highly visible location is adjacent to Interstate 10, which exposes the property to more than 156,600 vehicles per day, and just off Ray Rd, 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.

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




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