TUCSON, Arizona — Larsen Baker is pleased to announce the sale of a ±15,629-square-foot building on ±1.4 acres of land located at Sorrento Square on the southwest corner of Golf Links Rd. & Houghton Rd in Tucson to Goodwill Industries of Southern Arizona. The purchase price was $3.676 million ($235 PSF).

Built in 2013, the property was purchased by the tenant, Goodwill Industries of Southern Arizona, that has occupied since constructed for a Goodwill SuperStore. Goodwill Industries has 19 stores across Southern Arizona with 16 Retail Thrift Stores, 2 Outlet Stores, and 1 GoodThreads Boutique.

The property is the only Goodwill Thrift Store in the Vail area. This store claims to have one of the biggest selections of clothing and furniture of any of the Goodwill retail thrift stores. It is always a popular place on sale days and especially during the Halloween season. You will always find a great deal or two and of course shopping at Goodwill supports the community and reduces waste. Last year thanks to donations, Goodwill was able to keep over 28.5 Million pounds out of local landfills. It was also able to serve over 1,000 youth and 10,000 adults right here in Southern Arizona.

Andy Seleznov, CCIM, and Melissa Lal, CCIM, of Larsen Baker represented the Landlord, Larsen Baker, while Dave Blanchette with NAI Horizaon represented the Tenant.

For more information, Seleznov and Lal can be reached at 520.296.0200 while Blanchette should be contacted at 520.326.2200.

To learn more, see RED Comp #5309.

Nationally Recognized Donation Center Sold in East Valley

PHOENIX, Arizona – Cushman & Wakefield announced that the Goodwill, located at 2665 N. Power Road in Mesa, Arizona, has been sold for $6.2 million to C&P Properties, #1 LP.

Cushman & Wakefield Executive Vice President’s Chris Hollenbeck and Brent Mallonee represented the seller, Power & McDowell Development Partners, LLC. Warren Berzack of Lee & Associates LA North represented the buyer.

Recently completed in 2017, the single-tenant property is located at the southeast corner of Power Road and McDowell Road with a total rent area of 22,800-square-feet. The facility is within a strong retail intersection in Mesa with Albertsons, Bashas’, LA Fitness and more. Featuring a drive-thru drop off, the property is easily accessed by the Loop 202 freeway.

“This transaction closed almost simultaneously with Goodwill opening and paying rent so that the purchase price could be maximized,” says Hollenbeck.

The single-tenant property is under a brand new 15 year lease with Goodwill Industries of Central Arizona, Inc. who has more than 60 stores in Arizona. Operating since 1947, Goodwill of Central Arizona is one of the 165 autonomous Goodwill organizations. All Goodwill retail stores have recently been remodeled or replaced to reflect a clean, modern image.

Glendale, Arizona– CBRE has completed the sale of two single-tenant, net-leased Goodwill retailers located at 6161 West Bell Road in Glendale and 2933 South 99^th Avenue in Tolleson, Arizona. The portfolio sale commanded a price of $12.3 million and included an additional parcel of land (totaling 27,473-square-feet) located adjacent to the Tolleson Goodwill.

Joseph R. Compagno, Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the sellers; Phoenix, Ariz. based M-CountryCorners 1, LLC, M-CountryCorners 2, LLC, M-GlendaleX No. 1, LLC and the buyer; Yorktown Corporation, an Arizona corporation.

“We sold Yorktown’s 105,000-square-foot single tenant JCPenney on Ray Road a few months ago. We identified this Goodwill portfolio as an excellent 1031 exchange opportunity. The buyer placed a great new life insurance loan on the portfolio through Geoff Harris in CBRE’s Debt & Structured Finance group in Phoenix,” said Compagno. “The escrow closed in 50 days with new financing. It was a very smooth and efficient transaction for both parties.”