Phoenix, AZ – CBRE has completed the sale of Cambria, a 174-unit apartment community located at 130 W. Guadalupe Road in Gilbert, Ariz. The property commanded a sale price of $24.35 million ($140,000 per unit). Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction.
“Cambria is a well-located asset in highly desirable Downtown Gilbert,” said CBRE’s Cunningham. “The buyer was able to purchase the asset below replacement cost and as the Southeast Valley continues to grow, they should see considerable return on investment.”
Cambria was completed in 2000 and is located at the highly trafficked intersection of Gilbert Road and Guadalupe Road. The property is less than one-half mile from the Heritage District, a burgeoning cultural and culinary hub in the Southeast Valley. Cambria is also proximate to all four of Gilbert’s designated employment corridors. Additionally, Chandler’s Price Road Corridor, the largest cluster for high-tech employment in Arizona, is less than seven miles southwest of the community.
Cambria offers residents community amenities including controlled gate access, two swimming pools, recently upgraded clubhouse, 24-hour fitness center, business center and conference rooms, and picnic areas. Individual residences feature nine-foot ceilings, full-sized washer/ dryers, direct-access garages, walk-in closets, and private patios and balconies.