CHANDLER, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chandler Business Center, a 23,194-square-foot retail and office property located in Chandler, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3,997,500 ($172 PSF).
Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Chandler Business Center is located at 6170 West Chandler Boulevard in the middle of the West Chandler Employment Center. This six-suite property was built in 2002 on 2.03 acres near the intersection of West Chandler Boulevard and North Kyrene Road, which sees nearly 56,300 vehicles per day. The asset was 94% leased at the time of sale with tenants including Advance Auto Parts, Gryphen Specialty Products, Ashoka Indian Groceries, DeLex Realty and Boxing Therapy AZ.