Velocity Retail Group is pleased to announce the successful sale of Chandler Marketplace, a multi-tenant retail property located at the northwest corner of Chandler Boulevard and Kyrene Road in Chandler, Arizona, for $5,750,000.
Velocity Retail Group’s Eli Castronova and Brian Gast represented the seller, Dr. Afshin Safavi, a Denver-based commercial property developer and investor. Following the closing, Safavi shared his appreciation for the team’s work throughout the transaction. “I have been involved in almost 15 real estate transactions, and I can truly say your team is the most professional, organized, and hardworking I have worked with,” Safavi said. “You will see more of me in the future.”
Parker Jones of the Gast Team also played a key role in the property’s performance leading up to the sale. His focused leasing efforts throughout the year helped strengthen tenant activity and contributed positively to the property’s overall value.
On the buyer’s side, Sean Bishop and John Esslinger of Lee & Associates represented Southwest Investments, LLC, a long-time client they have worked with for more than 20 years. The acquisition was completed as part of a 1031 exchange purchase.
“Sean and John were very good to work with and stayed on top of the property due diligence and transaction details,” Castronova said. “Their attention helped move this fast-paced deal forward and contributed to a successful closing.”
The transaction reflects the coordinated efforts of multiple parties, including brokerage teams, legal representatives, property managers, and escrow professionals, all of whom played an important role in bringing the deal to completion.
Velocity Retail Group also recognized several key contributors to the transaction:
- Jeff Bergstrom and Matt Hinrikus of Mastin Bergstrom LLC, who represented the seller on legal matters
- Kurt Guldi and Greg Stratton of ACM, who provided property management services
- Shane Doherty and Becky Nisbet of Commonwealth Land Title Insurance Company, who handled escrow
Velocity Retail Group is proud to have represented the seller in this transaction and looks forward to continuing to create value for retail property owners and investors throughout Arizona and the Southwest.
