Cushman & Wakefield of Phoenix sells 20,937 SF retail building
PHOENIX, January 29, 2019 – 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.
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 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 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.