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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 commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

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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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