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PHOENIX-The Village at the Springs, anchored by a Blockbuster Video store, has been purchased for $1.5 million by private investors from California.

Calvin and Cheryl Westra of Ontario, CA purchased the 7,800-sf retail center, located near the intersection of Chandler Boulevard and Cooper Road in Chandler. The Westras purchased the center in a 1031 exchange using money garnered from the sale of another property.

The newly built retail center is at 1915 E. Chandler Blvd.

The Los Angeles office of Charles Dunn Co. represented the buyer, and the Phoenix office of CB Richard Ellis acted for the seller.

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