PHOENIX, Arizona – CBRE has arranged the $1.85 million sale of a single-tenant Denny’s ground lease located at 3160 West Carefree Highway in Phoenix. The 4,836-square-foot building is located in the heavily trafficked Tramonto Marketplace shopping center along the Carefree Highway and the I-17 freeway.
Joseph R. Compagno with CBRE’s Net Lease Property Group in Phoenix represented the Arizona-based seller. Brett Visintainer with Visintainer Group represented the buyer, Calif.-based YI Ranches, LP.
“We received nine all-cash offers within five days of taking the property to the market,” said CBRE’s Compagno. “The buyer paid $50,000 over list price to secure the opportunity. This is a great example of the power of the largest investment sale platform in the world, and the strength of our proprietary databases here at CBRE.“