Phoenix, Ariz. (December 10, 2018) - Thompson Thrift Retail Group, a full-service development and construction company, has sold a Navy Federal Credit Union, located at 3675 West Chandler Boulevard in Chandler, Arizona. The credit union was purchased by a family trust out of California for $2,480,000 in a 1031 exchange. Kidder Mathews commercial real estate brokers, Darrell DeShaw, Trask Switzenberg, and Chuck Wells, represented Thompson Thrift Development in the transaction.
The 3,700 square foot credit union is a newly built performing asset. It occupies the property as part of a single-tenant, net lease in the Met at Chandler Fashion development and is located directly to the west of a Dutch Bro's Coffee drive-through that Thompson Thrift Development Group also sold recently in a 1031 exchange.
"The sale of these two properties shows investors' confidence in the strength and stability of the Chandler submarket," said Switzenberg.
"This transaction is a result of marketing through the Kidder Mathews database to West Coast investors trading out of low cap California commercial real estate and seeking higher returning, strong corporate-backed investments in the established and growing areas of the Western United States," said DeShaw. "Investing in the Navy Federal Credit Union in Chandler checked all the boxes for the buyer and was a quick look and close," he said.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 750 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $7 billion in transactions, manages over 50 million square feet of space, and conducts over 1,500 appraisals annually. For more information, visit kiddermathews.com.
About Thompson Thrift Retail Group (TTRG)
Thompson Thrift Retail Group is a division under Thompson Thrift, a full-service real estate development and construction company with offices in Terre Haute, Indianapolis, Phoenix, AZ, and Houston, TX. Thompson Thrift is engaged in all aspects of acquisition, development, construction and leasing of quality retail, office, mixed-use and multifamily projects nationwide. To learn more about the company, please visit thompsonthrift.com.