PHOENIX, Arizona – CBRE negotiated the sale of a 10,017-square-foot multi-tenant retail building located at Coldwater Plaza in Avondale, Ariz., for $2.89 million. George Boukather, based in Newport Beach, Calif., acquired the property, located at 1461 N. Dysart Rd., from Sparty Holdings, LLC, based in Great Falls, Va. CBRE’s Steve Julius, Jesse Goldsmith and Joe Compagno represented the seller in the transaction.
Built in 2003, the four-unit building is 87 percent leased to three existing tenants including Red Dragon Buffet, Cricket Wireless and CheckMate. The property is adjacent to Sam’s Club, Ashley Home Furniture and Home Depot, which anchor Coldwater Plaza.
“Today, free-standing buildings with high street visibility are the most desired properties to both retail tenants and investors, especially when surrounded by national tenants, like this building at Coldwater Plaza,” said Steve Julius, First Vice President with CBRE.
The property is situated in metro Phoenix’s fast-growing Avondale/Goodyear submarket with access to the Valley via nearby Interstate 10. Downtown Phoenix and Phoenix Sky Harbor International Airport are within a 30-minute drive from the property.