Cushman & Wakefield of Phoenix sells 123,236 SF Walmart Shadow-Anchored Center
PHOENIX, August 20, 2019 – Cushman & Wakefield completed the sale of Santan Gateway North, a Walmart shadow-anchored shopping center, located at 1005 S. Arizona Avenue in Chandler, Ariz. Santan Gem, LLC purchased the property from GCCFC 2006-GG7 South Arizona Avenue, LLC (an entity formed by LNR) for $16.9 million.
Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.
Santan Gateway North is located at the southeast corner of Pecos Road and Arizona Avenue in Chandler. The 123,236-square-foot multi-tenant shopping center is situated on approximately 17.12 acres of land and is currently 77.2% leased to a diverse tenant roster led by Goodwill, Dollar Tree and LA Fitness.
“Santan Gateway North is an exceptional value-add opportunity with direct freeway access, a Walmart shadow anchor and tremendous Chandler growth and demographics,” said Executive Managing Director Michael Hackett.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.