Evergreen Foundation

Phoenix real estate firm buys Chandler retail center

By Corina Vanek  – Reporter, Phoenix Business JournalJul 6, 2020, 5:51pm EDT

Evergreen DevCo, a Phoenix based development company focused on retail and multifamily projects, bought Chandler Pavilions, a value-add retail site, and plans to secure new junior anchor tenants.

According to Maricopa County records, Evergreen bought the development for $10.52 million from Illinois-based Invesco LLC. Pat Dempsey of JLL represented the seller in the transaction. Phoenix Commercial Advisors will continue to lease the center on behalf of Evergreen.

The project is at Ray Road and 54th Street in Chandler and totals 163,594 square feet of retail space.

“We believe in the center’s fundamental qualities, which appeal to a broad range of retailers seeking a position with incredible I-10 freeway exposure and destination co-tenancy, located in one of the most dynamic and highly sought-after trade areas in metro Phoenix,” Bryan Lamond, director of acquisitions at Evergreen, said in a statement.

Tenants include REI Co-Op, Bed Bath & Beyond, Golf Galaxy and Cost Plus World Market; and it is shadow-anchored by Home Depot and Sam’s Club… Read more in the Phoenix Business Journal

https://bizj.us/1q4x79

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