Cushman & Wakefield sells Glendale and Tucson fast food restaurants
PHOENIX, May 6, 2019 – Cushman & Wakefield completed the sale of two Carl’s Jr.’s for a total of $3.4 million. The properties located at 1880 E. Broadway Boulevard in Tucson, Ariz. and 5775 W. Northern Avenue in Glendale, Ariz. were controlled by Strata Equity Corporation, Inc. and purchased by Phoenix-based Starcorp, LLC.
Chris Hollenbeck and Brad Douglass of Cushman & Wakefield represented San Diego-based Strata Equity Corporation, Inc. as the seller of the properties.
The two single-tenant fast food chain restaurants totaling 6,829 square feet (sf) were 100% occupied at the time of sale by Carl’s Jr. 1880 E. Broadway Boulevard sold for $1.7 million and totals 2,600 sf. 5775 W. Northern Ave. also sold for $1.7 million and is 4,229 sf. The franchisee, Starcorp, plans to continue operating both of the locations as Carl’s Jr.
“Starcorp has been a well-known Carl’s Jr. and Hardee’s franchisee here in Arizona and we are glad they were able to purchase these properties to continue to operate the locations under the Carl’s Jr. name,” stated Hollenbeck.
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 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.