Cushman & Wakefield Negotiates Sale to San Diego Investor
PHOENIX, Arizona – Cushman & Wakefield completed the sale of the 107,724-square-foot Home Depot at Hayden Plaza in Phoenix. Realty Income Properties of San Diego, Calif. purchased the property for $11.76 million ($109 PSF).
Cushman & Wakefield Executive Managing Directors Ryan Schubert and Michael Hackett represented the seller, a company formed by Kimco Realty Corporation.
Located on the northwest corner of Cave Creek Road and Cactus Road, The Home Depot is a highly visible site sitting on approximately 9.08 acres. The Home Depot is on a ground lease for 20 years, from January 1999 to January 2020.
The Home Depot, Inc. is an American home improvement supplies retailing company that sells tools, construction products and services. As of February 2016, The Home Depot has 2,274 locations and over 385,000 employees.