Phoenix - CBRE has completed the $2.69 million sale of a single-tenant retail property triple-net leased to Wilhelm Automotive at 15275 North 35th Avenue in Phoenix. Situated on the southeast corner of 35th Avenue and Greenway Road, the new 5,569-square-foot building is part of a retail development by Evergreen Devco, Inc.
Joseph R. Compagno, R. Max Bippus, and Benjamin Farthing of CBRE's Net Lease Property Group in Phoenix represented the seller, Arizona-based Evergreen Devco, Inc. Dylan Brown and Andrew Fosberg of CBRE in Phoenix, and California-Based Chris Van Keulen of CBRE, represented the California-based buyer, Vico Partners, LLC.
“The newly constructed Wilhelm Automotive attracted significant investor interest when we brought it to market,” said CBRE’s Compagno. “Our team received ten offers and were able to secure a list-price commitment prior to the auto center opening.”
Earlier this year, the Net Lease Property Group completed the sale of a Black Rock Coffee Bar in the same development as Wilhelm Automotive.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
