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Avison Young Brokers Sale of Single-Tenant Property Occupied by Circle K in Cave Creek, AZ
Los Angeles, CA – Avison Young announced today the $2.025 million sale of a 12,961 square-foot (sf) single-tenant retail property occupied by Circle K at 6802 E. Cave Creek Road in Cave Creek, AZ.
Avison Young Principals Chris Maling and David Maling who are based in the company’s downtown Los Angeles office, represented the buyer Los Angeles-based Truman Johnson, Inc. The seller, Arizona-based private was represented by CBRE.
Built in 1985, the property is situated in Cave Creek, an area with a limited number of gas stations, favorable demographics. It is also just 2.5 miles north of the popular 5-Star hotel, Boulders Resort & Spa.
“The new ownership saw the intrinsic value in the tenant, its rare 2 percent annual increases, and the large number of visitors during the town’s festivals every year,” said Chris Maling.
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For more information:
- Chris Maling, Avison Young +1 213 618 3824
- David Maling, Avison Young +1 213 618 3825