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January 27, 2020
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Investors Trade Two AZ Gas Stations for $5.5 Mil


Scottsdale-based Mesa Valley I acquired two AZ gas station properties for $5.55 mil. The purchases include an ARCO, located at 3610 E. Bell Road in Phoenix, and a Chevron, located at 825 E. Apache Blvd. in Tempe The assets were sold by Tempural LLC and Arbellco51 LLC.

The two single-tenant gas stations totaling 4.4k sf were 100% occupied at the time of sale by ARCO and Chevron. Located in north Phoenix, the 2.8k sf ARCO sold for $2.365 mil.

The 1.6k sf Chevron sold for $3.184 mil. It has an accompanying convenience store and is located on the southwest corner of Apache Blvd and Rural Rd. It is near the center of Tempe, a fast developing area of the ASU campus with a number of new high-rise housing developments, including both residential condos and student housing.

Chris Hollenbeck of Cushman & Wakefield negotiated the transaction on behalf of both the buyer and seller in the deal.

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