CBRE Facilitates $6.69 Million Sale of Two Ground Leases in Goodyear, Arizona

GOODYEAR, Ariz. (July 29, 2025) – CBRE recently arranged the $6.69 million sale of two adjacent single-tenant ground lease properties located at 1420 and 1460 North Bullard Avenue in Goodyear, Ariz., to two separate West Coast private capital exchange buyers. The land parcels are currently both leased to two newly built restaurants, White Castle and Bubba’s 33.

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.”

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 million (4.87% cap rate). The Valley’s third White Castle is located at 1420 North Bullard Avenue. The nearly 1-acre parcel and property, which features a double drive-thru, sold for $3.2 million (5% cap rate).