July 8, 2020
Phoenix-based Evergreen Devco, Inc. acquired Chandler Pavilions, a 163,594 square-foot high traffic retail center in Chandler from Invesco for $10.52 million. The value-add retail site, located at 800-890 North 54th St., was originally built in 1998.
The property is leased to a complementary mix of national and regional tenants, including REI Co-Op, Bed Bath & Beyond, Golf Galaxy and Cost Plus World Market; and shadow-anchored by Home Depot and Sam’s Club. Chandler Pavilions is strategically located south of Ray Road along I-10, with quick access to Loop 202.
Evergreen Devco’s Bryan Lamond says, “We believe in the center’s fundamental qualities, which appeal to a broad range of retailers seeking a position with incredible I-10 freeway exposure and destination co-tenancy, located in one of the most dynamic and highly sought after trade areas in Metro Phoenix.”
JLL’s Pat Dempsey represented the seller in the transaction. Phoenix Commercial Advisors will continue to lease the center on behalf of Evergreen.
For comments, questions or concerns, please contact Dennis Kaiser