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June 24, 2024
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RETAIL NEWS
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CA Investor Spends $4.2 Mil on Chick-fil-A Ground Lease in Arizona

5/13/24

The ground lease for a 4.5k sf, newly developed single-tenant property occupied by Chick-fil-A in Queen Creek, AZ traded for $4.22 mil. It was sold by a private developer.

Situated on 1.48 acres, the property recently opened and is located on the northwest corner of Ironwood Rd and Ocotillo Rd. The property features a double drive-thru at a signalized intersection and is an outparcel to a newly built Safeway-anchored shopping center.

Matthew Mousavi, Patrick Luther and John Toben with SRS Capital Markets represented the seller in the deal. The buyer was a California-based private investor. According to Luther, the asset closed escrow prior to the tenant opening for business.




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