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Matthews Real Estate Investment Services recently completed the sale of a retail building in Phoenix’s Ahwatukee submarket for $9.5 million. The property, located at 4836 E Chandler Blvd and built in 2002, offers 45,000 square feet of leasable space on a 5.13-acre lot.

Senior Associate Brandon Perez represented the seller in this transaction which involved the popular fitness chain LA Fitness as the tenant with a lease term through 2025.

According to Perez, the buyer has plans to generate income from this property and also has their own concept ready to fill any potential vacancy left by LA Fitness. This recent deal highlights strong demand for commercial real estate investments in Phoenix’s thriving market.