Phoenix, Arizona – CBRE has completed the sale of a single-tenant, 5,239-square-foot QuikTrip located at 1190 West Elliot Road in Tempe, Arizona. The 1.43-acre property commanded a sale price of $4.25 million ($811 PSF).
Joseph R. Compagno with CBRE’s Phoenix office represented the buyer, Arizona-based, Lumberjack Capital, LLC. Tatyana Meulemans from Newmark Grubb Knight Frank represented the seller, Arizona-based TRZ Holdings-Tempe, LLC.
“The QuikTrip is a very well-located property in Tempe and is a pad to the Walmart Supercenter anchored Groves Power Center. The buyer was a local, high-net-worth investor specifically looking for a gas station investment property,” said Compagno. “This will be a great long-term investment.”