Cushman & Wakefield of Phoenix sells 20,937 SF retail building

PHOENIX, Arizona – Cushman & Wakefield completed the sale of Hobby Action at Chandler Pavilions II, located at 865 N. 54th Street in Chandler, Ariz. Chandler Pavilions, LLC of Chandler purchased the property from MDI 54, LLC of Encino, Calif. for $1.9 million.

Chris Hollenbeck and Ryan Schubert of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.

Hobby Action is a 20,937-square-foot single-tenant retail building located within the Chandler Pavilions II retail center. At the time of sale the property was 100 percent leased and is situated right off the I-10 freeway surrounded by national and local retailers including Potato Barn, Bounce A Rama, Pei Wei, Zoe’s Kitchen, Nekter, Ulta Beauty and Sur La Table.

“We are excited to help MDI with their breakup strategy for Chandler Pavilions II, and are ready to take to market the outer parcel in front of Hobby Action which includes Starbucks, Subway, and Rumbi as tenants,” said Chris Hollenbeck.