A private investor based in La Jolla, California, purchased a 102,033-square-foot shopping center in Chandler, Arizona, from a private investor based in Los Angeles. Laguna Village sold for $14.7 million, or about $144 per square foot.
The 90 percent occupied center at 5965 W. Ray Rd. is anchored by Christ’s Church of the Valley. The Class B property is two miles from the I-10, Loop 202 and Loop 101.
“Laguna Village checked off all the boxes and provides a stabilized center that is poised to continue to appreciate as the greater Phoenix region experiences high population growth and a thriving job market,” said Sean Thomas, vice president of SRS Real Estate Partners, in a statement.
Thomas represented the buyer in the transaction. Dave Murphy and David Bernstein with Bernstein Murphy Co. represented the seller, which originally purchased the property in January 2016, CoStar data shows.