Kidder Mathews brokers Darren Tappen, Nathan Thinnes, and Peter Beauchamp represented Jewell Capital in selling SanTan Gateway North in Chandler, Arizona. The buyer, Coast Meridian Properties, acquired the property for $26,565,000 ($215 per square foot).
SanTan Gateway North is a multi-tenant retail center situated on 17.1 acres. Anchored by a high-performing Walmart Supercenter (NAP), the property has a diverse and complimentary tenant list including O’Reilly Auto, Dollar Tree, Sky Zone, and Shane Co. In addition, there are three parcels ground-leased to Wendy’s, Del Taco, and JPM Chase.
“Longtime investors remain focused on institutional-quality anchored retail centers in the Phoenix metro,” said Tappen, a recognized expert in Arizona investment property dispositions. “Multinational fast-food brands like Wendy’s and Del Taco, and financial institutions like J.P. Morgan, offer reliable and stable tenants — which also drew a considerable amount of interest from prospective buyers.”
Located at 1005-1205 S. Arizona Avenue, the center is strategically positioned one mile south of downtown Chandler’s central business district and across from a 44-acre mixed-use development that will generate tremendous economic activity for the area.
“The value of the property is heightened by not only its tenant base, but by its unique location within the City of Chandler,” said Thinnes.
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with over 900 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $12 billion in transactions, manages 53 million square feet of space, and conducts over 2,600 appraisals annually. For more information, visit kidder.com.