Avison Young Brokers Sale of Single-Tenant Property Occupied by Circle K in Cave Creek, AZSeptember 23, 2021
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.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
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For more information:
- Chris Maling, Avison Young +1 213 618 3824
- David Maling, Avison Young +1 213 618 3825