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December 6, 2019
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TEXAS/SOUTHWEST NEWS
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Investor Spends Over $500/sf for AZ Single-Tenant Building

11/01/19

A 5.5k sf, single-tenant building in Cave Creek, AZ was purchased for $3 mil ($545/sf) by Thomas J Separate Property Trust of Cathedral City, CA. The property is 100% leased to a long tenant, Wilhelm Automotive, a full-service Arizona auto repair center.

Built in 1998, the property is located on three acres of land at 29233 N. Cave Creek Rd, in the Tatum Ranch area of North Phoenix. The property has Cave Creek Road frontage and is easily accessible from the Loop 101.

Chris Hollenbeck of Cushman & Wakefield represented the seller, MCL Investments LLC. According to Hollenbeck, Wilhelm Automotive is a strong brand with a long history of providing excellent service to its customers in Arizona.




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