Cushman & Wakefield Negotiates Sale of Chicken Eatery
PHOENIX, Arizona – Cushman & Wakefield completed the sale of Bush’s Chicken as a single tenant net leased investment, located at 660 West Bell Road in Phoenix. The all-cash California, 1031 Exchange Investor purchased the property from Phoenix-based Hinkson Company for $3,383,333 ($1,045 PSF).
Cushman & Wakefield Senior Director Chris Hollenbeck represented the seller. Sean Thomas of SRS represented the buyer.
Recently completed in June of 2017, the single-tenant property totals 3,238-square-feet. The new property is under a 15-year absolute NNN lease to Bush’s Chicken. Located in the prestigious Moon Valley area and 1-mile east of Turf Paradise Racetrack, the property is on the hard corner in front of a shopping center anchored by WinCo Foods, PetSmart and Goodwill.
“This was one of the first Bush’s Chicken restaurants to open in Phoenix. We were happy to be part of the property and help Hinkson Development complete the transaction,” says Chis Hollenbeck.