REBusinessOnline

THE BOARDWALK AT ANDERSEN SPRINGS TRADES HANDS FOR $19.35M

Posted on by in Retail, Western

CHANDLER, ARIZ. — Los Altos, Calif.-based West Valley Properties Inc. has purchased The Boardwalk at Andersen Springs, a neighborhood retail center located at 1949-1989 W. Ray Rd. in Chandler, for $19.35 million. Built in 1988, the single-story retail center offers 92,231 square feet of retail space. At the time of acquisition, the property was 95 percent occupied by a variety of tenants, including Sprouts, Deserts Schools Federal Credit Union, a day spa, a yoga studio and Blockbuster Video. Cam Stanton of CB Richard Ellis’ Phoenix office represented the seller, Los Angeles-based BOAS Boardwalk LLC, in the transaction. Rocco Mandala of CBRE|Melody’s Phoenix office arranged the financing, which was provided by Aetna Life Insurance Company.

Content Partners
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