CHANDLER, AZ-An 11,363-sf, fully leased retail building, part of a 140,000-sf, mixed-use complex that is home to the Valley’s first Nick & Willy’s, has been sold for $2.8 million to a local development firm.

Lippow Development Co. purchased Building 3 in the Chandler Business Center in a deal that left seller CFH Millenium Inc., with ownership of a remaining retail complex and an industrial and office building. Matt Milinovich of Phoenix office for Dallas-based Trammel Crow Co. tells that the attractiveness of the 6140 W. Chandler Blvd. building coupled with the strong tenancy made for a sweet deal.

Constructed in early last year, the building was leased by June to Starbucks, Subway, China Lite and Copy Club. Nick & Willy’s, a chain of take-and-bake pizza stores, also located its first Valley store at the site, Milinovich said.

The single-story retail and industrial office buildings owned by CFH Millenium are vacant, but are expected to be fully leased within the next few months, Milinovich said. He and Mike Kumelski of Trammell Crow assisted the seller in the transaction. Jamie Medress and David Guido, both of Marcus & Millichap in Phoenix, represented the buyer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.