PHOENIX – Ahwatukee Foothills Center, a prestigious Ahwatukee Foothills drive-thru Pad built in 2002, sold for $2,038,000. The property is located on Chandler Boulevard, just west of Interstate 10, in a dense retail corridor with over 250,000 SF at the intersection. Notable neighboring tenants include LA Fitness, Kohl’s, CVS and Tutor Time.
“We received an overwhelming amount of interest on this asset,” explains Andrew Harrison, Vice President at ORION Investment Real Estate. “The seller eventually decided to go with a local buyer who was in a 1031 exchange with only a few days left to identify his replacement property. We ended up closing the escrow in less than 27 days.” This was an all cash transaction.
The property was sold by PWDAF 48th and Chandler, LLC and purchased by Ahwatukee Hills LLC, both Arizona-based. Ahwatukee Foothills is 100% leased to Qdoba, Dunkin’ Donuts, Zoyo and Calico Studios.