Cushman & Wakefield Negotiates Sale to Two Separate Investors
PHOENIX, Arizona – Cushman & Wakefield completed the sale of two north Phoenix retail buildings for a total of $3.4 million. The properties located at 701 E. Dunlap Avenue and 8949 N. 7th Street were controlled by MCR Dunlap, LLC and represented by Cushman & Wakefield’s Senior Director Chris Hollenbeck.
The two single-tenant, free-standing buildings totaling ±21,500-square-feet were 100% occupied at the time of sale by auto and loan tenants.
701 E. Dunlap Avenue sold for $2.666 million to Christina Enterprises Bellflower, LLC and is leased to Advanced Auto Parts, the largest retailer of automotive replacement parts and accessories in the U.S., with a brand new 10 year lease. 8949 N. 7th Street is leased to Cash Time Loan Center, a Scottsdale-based emergency title and auto loan service, with five years remaining on the lease term and sold for $750,000 to Linda Arizona Holdings, LLC.
"We were honored to help MCR Companies originally acquire the entire property and then add value by parceling off and selling the Cash Time Loan Center building and the Advance Auto Parts building, separately, as single-tenant assets. Both buyers were individual investors looking for long term cash flow. These two transactions worked out great for both buyers and MCR Companies,” says Chis Hollenbeck.