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$6M Hooks 21,770-SF Shopping Center in Off-Market Trade

CHANDLER, AZ-A 1031 exchange buyer from San Francisco pockets the deed to Valle del Sol for $5.5 million. The buyer deploys capital from a residential lot sale in Hawaii into a 60%-leased asset shadow-anchored by LA Fitness.

By Jennifer D. Duell | Updated on June 13, 2005

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CHANDLER, AZ-A 1031 exchange buyer from San Francisco has acquired the 21,770-sf Valle del Sol in an off-market transaction, paying $5.5 million to Phoenix-based developer and owner BC Berge LLC. The new owner is deploying gain from a residential lot sale in Hawaii.

The Valle del Sol at 2050 N. Dobson Rd. is shadow-anchored by one of the Valley’s busiest LA Fitness Centers in the Valley, says Tracy Cartledge, a vice president in Phoenix for Dallas-based Trammell Crow Co. “We knew the property would be coming on the market and were able to get control of it before it was listed,” he tells GlobeSt.com. “The tenants in Valle del Sol really feed off it.” The center’s roster includes Starbucks, Quiznos, Valley Vitamin, Jack in the Box and a skincare clinic and nail salon.

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