CBRE sells vacant Chandler site to multifamily developer
CBRE completed the sale of 8.73-acre infill site located just west of Chandler Fashion Center in Chandler, Ariz. San Antonio-based Embrey Development Co., a privately-owned firm, purchased the property from Phoenix-based Jewel Investment Co., LP. The buyer plans to construct a 300-unit Class A multifamily property on the site.
Dave Headstream and Jason Hyams with CBRE’s Phoenix Land Services Group represented both the buyer and the seller in the transaction.
“The property is well-located along one of Chandler’s most bustling employment corridors and surrounded by favorable demographics with immediate access to the fast-growing East Valley cities,” said CBRE’s Headstream.
The site, located at 3775 W. Chandler Blvd. in a highly desirable Chandler submarket, benefits from strong visibility along heavily trafficked Chandler Boulevard, access to Loop 101 and Loop 202, and is minutes away from Chandler’s premier dining, retail and entertainment destinations.