Pacific West Development, based in Beverly Hills, CA and headed by Bruce Galloway and Richard Engel, purchased a 14.6-acre parcel at the northeast corner of McClintock Drive and Chandler Boulevard in Chandler for $2.8 million.

Pacific West Development plans to build a 120,000 sf of retail space and a limited service hotel. The company plans to develop a portion of the retail and sell pads to end-users. Construction is scheduled to begin late next year. Company officials say that several major furniture stores are interested in taking space at the center.

The parcel is less than a mile from Chandler Fashion Center, a 1.3 million-sf regional mall under development by Phoenix-based Westcor. Thousands of square feet of retail, office and hotel space is under development around the mall area, which is scheduled to open in October. Chandler Fashion Center is at the southwest corner of the Price Freeway and Chandler Boulevard.

Chandler is one of the Valley's, and the nation's, fastest growing cities. The city has about 180,000 residents and gains another 10,000 annually. Much of the residential activity that occurred in the East Valley has come to Chandler.

The parcel at Chandler Boulevard and McClintock Drive was sold by Joseph Shalev, a Henderson, NV-based real estate investor.

vPacific West Development has become increasingly more active in the market in the past two years. The company purchased a parcel at the corner of 67th Avenue and Happy Valley Road in north Phoenix, where it is planning to build a 120,000-sf retail center. Pacific West is also in development on a retail center at the northeast corner of Frank Lloyd Wright Boulevard and Thompson Peak Parkway in Scottsdale.