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7/29/25
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Two adjacent, single-tenant ground lease properties in Goodyear, AZ traded in separate deals totaling $6.69 mil. The assets, located at 1420 and 1460 North Bullard Ave, were acquired by different West Coast private capital exchange buyers.
The land parcels are currently both leased to two newly built restaurants, White Castle and Bubba’s 33. Located at 1460 North Bullard, Bubba’s 33 features a brand-new 15-year absolute triple-net ground lease and is positioned on a large 1.73-acre parcel. The property sold for $3.488 mil (4.87% cap rate). The White Castle sits on a nearly one-acre parcel at 1420 North Bullard Ave. The property, which features a double drive-thru, sold for $3.2 mil (5% cap rate).
CBRE’s Benjamin Farthing and Owen Littrell represented the seller, Tradecor Partners Goodyear LLC, in the transaction.
“These sales reflect the continued demand for well-located, corporate-backed net lease assets in high-growth markets like Goodyear, Ariz.,” said Farthing. “The proximity to transformative developments like the 150-acre mixed-use development, GSQ and Buc-ee’s new Arizona location, made these properties especially attractive to investors.”
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