PHOENIX, October 30, 2019 – On behalf of MCL Investments, LLC, Cushman & Wakefield completed the sale of the property which Wilhelm Automotive leases located at 29233 N. Cave Creek Road in Cave Creek, Ariz. Thomas J Separate Property Trust of Cathedral City, Calif. purchased the property for $3 million.
Chris Hollenbeck of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.
The 5,500-square-foot, single-tenant building is 100% leased to a long tenant, Wilhelm Automotive, a full-service Arizona auto repair center. Built in 1998, the property is located on three acres of land in the Tatum Ranch area of North Phoenix. The property has Cave Creek Road frontage and is easily accessible from the Loop 101.
“Wilhelm Automotive is a strong brand with a long history of providing excellent service to its customers in Arizona. This unit is in an affluent trade area and we were happy to have assisted the buyer in the acquisition of what should be an excellent investment for years to come,” stated Hollenbeck.
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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 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.