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Net Leased Retail/Auto Asset in Phoenix Suburb Sells for $2.1M

7/7/2020
PHOENIX, Ariz., July 7, 2020 – Cushman & Wakefield announced today the firm has represented Phoenix-based CASC Investments, LLC in the sale of a freestanding 4,139-square-foot automotive building in Cave Creek (Phoenix), Arizona for approximately $2.1 million.

Wilhelm AutoThe 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

About Cushman & Wakefield 

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

Contact/Author

Joshua Deale San Diego Communications Manager
Joshua Deale

Communications Manager • Costa Mesa

Mr. Deale leads strategic media relations and thought leadership efforts for the West Region markets, and oversees their online presence including managing article and social media efforts.

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