Regions Southwest | Phoenix
July 15, 2008
CB Richard Ellis has negotiated the sale of The Boardwalk at Andersen Springs, a 92,231-square-foot retail center located at 1949-1989 W. Ray Road in Chandler, Ariz. Cam Stanton of CBRE’s Phoenix office represented the seller, BOAS Boardwalk L.L.C. in the $20 million transaction. The buyer was West Valley Properties Inc. Financing for the transaction was arranged by Rocco Mandala in the Phoenix office CBRE|Melody, CBRE’s debt and equity financing service. Built in 1988 and located at the southeast corner of Dobson and Ray roads, the single-story retail center sits in a park-like setting. The property was 95 percent occupied at the time of sale. It has a diverse tenant mix of retailers including Sprouts, the anchor tenant, along with multiple restaurants, a day spa, Desert Schools Federal Credit Union, a yoga studio and Blockbuster Video.
CB Richard Ellis has negotiated the sale of The Boardwalk at Andersen Springs, a 92,231-square-foot retail center located at 1949-1989 W. Ray Road in Chandler, Ariz. Cam Stanton of CBRE’s Phoenix office represented the seller, BOAS Boardwalk L.L.C. in the $20 million transaction. The buyer was West Valley Properties Inc. Financing for the transaction was arranged by Rocco Mandala in the Phoenix office CBRE|Melody, CBRE’s debt and equity financing service. Built in 1988 and located at the southeast corner of Dobson and Ray roads, the single-story retail center sits in a park-like setting. The property was 95 percent occupied at the time of sale. It has a diverse tenant mix of retailers including Sprouts, the anchor tenant, along with multiple restaurants, a day spa, Desert Schools Federal Credit Union, a yoga studio and Blockbuster Video.
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