Serrano’s Mexican Restaurants has sold its former Chandler location to JAM Management LLC for $4.58 million. The 13,250-square-foot property was the only location owned by Serrano’s, which has operated in the Valley for 45 years. The Chandler eatery closed in June, but the company’s other locations and fast-casual concept, Pronto, remain open. JAM Management LLC, owned by a group with restaurants in New Mexico, also has a founding member who lives in Chandler. The sale was announced in March, with the real estate asset being quite costly to run on a day-to-day basis. Serrano’s continues to operate its remaining leased locations after the sale of its Chandler property. This article is presented in partnership with Phoenix Business Journal, where the full story is available for reading. For any story ideas or tips, reach out to the KTAR News team.
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New Mexico operator acquires Former Serrano’s restaurant in Chandler
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