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Chandler, Ariz. — Peak Development Partners and Hungry Investments have acquired a 5.5-acre parcel of land in Chandler, roughly 20 miles outside Phoenix. The joint venture acquired the property from NGAI Family Trust for an undisclosed price, with plans to develop multiple retail pads at the site. Construction is scheduled to begin in the fourth quarter of this year, with the opening planned for the first quarter of 2025. Brian Gast of Velocity Retail Group will manage leasing at the property. Phil Bramsen of SanTan Commercial Advisors represented Peak Development Partners in the transaction, and Mike Sutton of Lee & Associates represented the seller.