Chandler, Ariz., July 26, 2022—Portland-based Schnitzer Properties has announced the acquisition of Chandler Pavilions in Chandler, Arizona, a suburb of Phoenix. The 163,286 square foot property sits on 17.97 acres, located along the high-traffic Interstate 10, at Ray Road, providing tenants maximum visibility and a booming customer influx. The property is enhanced by huge national retail draws such as REI, Golf Galaxy and Sportsman’s Warehouse—it’s an outdoor adventure shopping destination—rounded out by Bed Bath & Beyond and CostPlus World Market, in addition to a full complement of eateries, like Chipotle and Mountain Mike’s.
“Chandler Pavilions is a very exciting property to add to our fast-growing retail portfolio,” said Jordan Schnitzer, President of Schnitzer Properties. “It’s a truly exceptional acquisition with undeniable appeal as a retail destination. Our retail division now consists of 24 retail properties, spanning nearly 3 million square feet. We want to thank the Jones Lang Lasalle team for their help on this acquisition.”
Pat Dempsey, of JLL, brokered the deal, along with Gleb Lvovich and Patrick Anthon. Pat said, “Chandler Pavilions is an excellent example of a successful shopping center in an irreplaceable location. JLL is pleased to have facilitated this successful transaction.”
“We are excited to have the privilege to acquire the recently renovated Chandler Pavilions”, said Jay Fetherston, Senior Vice President-Retail North, at Schnitzer Properties, “the combination of outdoor and home-focused retailers creates a destination that draws from a large and affluent customer base. The newly expanded REI is one of two locations in the metro area. I-10 frontage along with nearby retailers Home Depot, Sam’s Club, Lowes and AJ’s Fine Foods combine to make this a premiere shopping destination.”
Michael Corbitt, Senior Vice President-Retail South, at Schnitzer Properties added, “We look forward to adding more retail centers in the Phoenix metropolitan area! We already own 3 million square feet of flex industrial in the Phoenix market, so our retail division needs to catch up!”
The Phoenix Metro area is known for its meteoric population growth, increasing nearly 7% year-over-year, providing a growing stream of shoppers for its dominant retail hub of Chandler.
About Schnitzer Properties
Schnitzer Properties is a privately-owned real estate company that acquires, manages and develops properties for its own portfolio. The company owns and operates 28 million square feet of office, multitenant industrial, multi-family and retail properties in six western states. Headquartered in Portland, Oregon, Schnitzer Properties has regional offices in Portland, Seattle, the San Francisco Bay Area, Sacramento, Las Vegas, and San Diego.
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