Phoenix, Arizona—(October 23, 2024)—A prime commercial property in Chandler, Arizona, has been sold following the necessary expansion of a well-known retailer. The building, situated in a thriving community with significant trade in the immediate area, was a key retail location, benefiting from Chandler’s residential and economic growth in recent years.
The property, located at 865 N 54th St. in Chandler, was formerly home to Potato Barn. They vacated the property due to their rapidly expanding operations, which required a larger space to accommodate growing customer demand. Their move marks a strategic decision to serve their expanding clientele better while leaving behind the prime commercial property in Chandler’s thriving trade area. The property, located at Chandler Pavilions, attracted significant attention from prospective buyers due to its prime location in one of Chandler’s most rapidly expanding areas. With strong economic indicators, a robust residential market, and increasing demand from businesses looking to tap into Chandler’s diverse trade area, the sale was finalized on October 16th for $3,600,000.
CRE8 Advisors represented the seller, Imagine Aria, LLC, in the sale. Partner Rommie Mojahed and the team of advisors, including Eddie Gonzalez and Senior Advisor Lindsey Dulle, worked diligently with the owners to close the deal.
Designated Broker, Eddie Gonzalez stated, “I had the privilege of working with Tim Hawkins on the sale of his commercial building. Tim went above and beyond at every step, demonstrating an unwavering dedication to ensuring a successful outcome.” The buyer, Taroko, US Corporation was represented by Western Retail Advisors and the new space will become an indoor baseball and batting-cage facility for the community. Gonzalez continued to state, “Tim’s proactive approach was instrumental in closing the deal efficiently and smoothly.”
This sale highlights the continued appeal of commercial real estate in Chandler, which has witnessed a surge in demand as the city grows. The property’s central location offers easy access to major transportation routes, including the proximity to the I-10 freeway, making it a strategic investment opportunity for the new owner. Additionally, it is surrounded by a row of entertainment users, such as Slick City and Hobby Action Raceway.
“We’re thrilled to have facilitated the sale of this property,” said Rommie Mojahed, Partner at CRE8 Advisors “Chandler’s commercial sector is booming, and this transaction is a testament to the area’s appeal for both investors and businesses looking to expand their presence.”
If you want to join the tenant mix in the southeast Valley, visit www.CRE8advisors.com for more available property locations nearby.