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:
- 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.
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