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2095 North Alma School Road

LNR Partners Sells Sun Village Fair Shopping Center In Chandler For $12.5M
SOLDRetail

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

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:

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.

Players

Trevor Koskovich

NorthMarq

Broker

$704.1M

vol

17 deals

Broker

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