LNR Partners Sells Sun Village Fair Shopping Center In Chandler For $12.5M
2095 North Alma School Road
$12,500,000
$66/SF
Building Size
189,022 SF
Asset Type
Retail
Closing
Mar 15, 2024
About this deal
AI
The sale involved a retail property located at 2095 North Alma School Road in Chandler, AZ. The property spans 20.46 acres and was sold for $12.5 million. The total square footage of the property is 189,022 with a price per square foot of $66.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $12,500,000
- Buyer: LNR Partners
- Brokers: Brett Rinehart - Land Advisor; Darren Tappen, Nathan Thinnes, Peter Beauchamp, Trask Switzenberg - Kidder Mathews; & Trevor Koskovich - NorthMarq
The sale of Sun Village Fair, a shopping center in Chandler, Phoenix, was finalized with the property being acquired by Arizona Partners (AZP) for $12.5 million. The transaction was facilitated by a team of brokers including Brett Rinehart from Land Advisor, Darren Tappen, Nathan Thinnes, Peter Beauchamp, and Trask Switzenberg from Kidder Mathews, and Trevor Koskovich from NorthMarq.
On the Map
$12,500,000
$66/SF
Retail
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Players
Chandler Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93