PRESCOTT, ARIZONA – MCR Companies, a Phoenix based commercial real estate investment and development company announced the recent sale of its latest investment in Prescott, Arizona.
The property is located at 1122 Iron Springs Rd. in Prescott Arizona. As a single tenant NNN building, the property is leased to T-Mobile, one of the largest wireless network operators in the United States. The property sold for approximately $1.7 million to an Orange County based buyer.
“This is an attractive investment with great visibility from Iron Springs Rd. said Tim Reardon, Partner at MCR Companies. “We see opportunities like this all the time, rundown buildings can be repurposed into something much more.
The building, a former Burger King, sat vacant for a few years before MCR Purchased it in 2019. “With T-Mobile now occupying the space, it will be a great asset for the community.” Mr. Reardon Said.
Princeton Construction was the Contractor of Record.
Chris Hollenbeck and Regan Amato with Cushman & Wakefield’s Phoenix office represented MCR Companies in the transaction.