Updated May 23, 2025
WinCo Foods Sells 31 Acres In San Tan Valley, AZ For $10 Million To Pennant Development
East San Tan Street
$10,000,000
Building Size
—
Asset Type
Development Site
Closing
May 22, 2025
About this deal
AI
A development site encompassing 31 acres in San Tan Valley, AZ was sold for $10,000,000. The asset is slated for the new Skyline Ranch Marketplace retail center, which will span 225,000 square feet.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Seller: WinCo Foods
- Brokers: Chuck Gibson, Stephanie Davis & Ed Beeh - SRS Real Estate Partners
- Buyer: Pennant Development and REALM, LP joint venture
This transaction involved an experienced team from SRS Real Estate Partners, indicating a strong brokerage support behind the sale, reflecting a strategic move in the local real estate market.
Players
Chandler Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93