VIAONE Properties, in partnership with a private NYC Investment Group, has completed the purchase of a +14,995 square-foot, single-tenant NNN retail asset occupied by Tutor Time at 2050 W. Ray Road in Chandler for $5.6M.
The roughly 2.5-acre site is located near the signalized, hard corner intersection of Ray Road and Dobson Road (44,100 combined vehicles per day). The property sits next to a Pet Club, sharing points of ingress and egress. This is a very strong Chandler trade area with a Fry’ s anchored shopping center and Sprouts Farmers Market also located at the intersection. The site is less than half a mile away from State Highway 101 (115,000 vehicles per day) with direct on/off ramp access. The site is also in close proximity to Chandler Fashion Center and Chandler Festival (1.66MM combined SF) anchored by national/credit tenants such as Nordstrom, Macy’ s, Harkin Theatres, Nordstrom Rack, PetSmart, T.J. Maxx, Ross, and many more. The 5-mile trade area is supported by over 305,000 residents with an average household income of $85,100.
Colliers International NYC, Managing Director, Dmitry Levkov represented the Buying entity, Proinvest 99 Holdings Chandler Arizona, in the transaction and SRS, Senior Vice President, Dan Elliot represented the Seller, Candice Brown Family Trust.
“This particular acquisition represented a full team execution where collectively we were able to add measurable value, to an already very strong asset, through a shared commitment to deliver a value-enhanced outcome, with an incredible partner. This marks the second deal with a great partner with a shared vision and complimentary skill sets”, added VIAONE, President, Marc Bonilla.