Old Town Chandler Building Sells For $4 Million
18 Jun, 2008, Chandler, AZ
The office/retail building at 8 S. San Marcos Pl. in historic downtown Chandler has sold to a Montana investor for $4,030,000.
The building, which was constructed in 1954, is fully occupied with San Tan Brewery as its major tenant.
Desert Viking Properties LLC of Chandler sold the property to Montana-based Highland Properties 2308 LLC. The 12,776-square-foot building is located in the heart of historic Chandler and was significantly renovated in February 2007.
“The buyer was drawn to this asset by its very strong occupancy level and the dynamic rejuvenation of old town Chandler,” says Brian Ackerman, a director with Cushman & Wakefield of Arizona, Inc. “This area of Chandler has recently increased in popularity with an influx of unique retail tenants and the development of apartment properties. This historic area is developing an energy level and character similar to Old Town Scottsdale.”
Ackerman and Karsten Peterson of Cushman & Wakefield of Arizona, Inc. served as exclusive sales agents for the Chandler property, representing the seller in the negotiations. Steve Julius, Eric Wolfe and Jesse Goldsmith of Marcus & Millichap in Phoenix represented the buyer.
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