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CHANDLER, ARIZ. — LNR Partners has completed the sale of Sun Village Fair, a shopping center in the Phoenix suburb of Chandler, to Arizona Partners (AZP) for $12.5 million.
Situated on 20.46 acres at Alma School and Warner roads, Sun Village Fair consists of 189,022 square feet of existing retail space and six acres of slated for pad development. The redevelopment of the property will be aided by existing tenants, Walmart, First Bank and Wendy’s, that are still operating within the development but were not included in the sale.
Darren Tappen, Nathan Thinnes, Peter Beauchamp, Trask Switzenberg and Matthew Ault of Kidder Mathews, along with Trevor Koskovich of Northmarq and Brett Rinehart of Land Advisors, represented the seller in the deal.