The buyer was the Chappelle Family from the San Francisco East Bay Area. Cushman & Wakefield’s Chris Hollenbeck and Shane Carter of the firm’s Phoenix office represented the seller.
Located at 6022 E Cave Creek Rd, a main arterial, the building is fully leased on a triple-net basis to Wilhelm Automotive, a regional automotive repair shop that has served Arizona for over 90 years. The building sits on approximately 0.80 acres and was originally developed in the mid 1980s.
Chris Hollenbeck, Executive Director, said, “This was an attractive opportunity to acquire a well maintained and located investment property leased to a credit tenant providing a stable, long-term income stream. Positioned just north of Scottsdale, the property also provides a strong nearby demographic base.”
Wilhelm Automotive representative photo