{"id":1004456260,"date":"2020-06-16T02:22:21","date_gmt":"2020-06-16T10:22:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004456260"},"modified":"2025-02-26T03:18:03","modified_gmt":"2025-02-26T11:18:03","slug":"cbre-completes-sale-of-phoenix-area-retail-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/","title":{"rendered":"CBRE Completes Sale of Phoenix-Area Retail Property"},"content":{"rendered":"
\"\"<\/a>

16420 N. Scottsdale Road. Image courtesy of CBRE<\/em><\/p><\/div>\n

CBRE has arranged the $2.14 million sale of a 1,700-square-foot single-tenant retail property leased to The Coffee Bean & Tea Leaf, in Scottsdale, Ariz. Joseph Compagno, Benjamin Farthing and Jared Davis of the brokerage\u2019s Net Lease Property Group in Phoenix represented the seller, KAFE LLC. Ian Schroeder, Melissa Ley and Allison McDuffie of the corresponding CBRE team in Newport Beach, Calif., represented the buyer, Monarch Real Estate Holdings LLC.<\/p>\n

Built in late 2019, the building includes a drive-thru and is occupied by the coffee chain with a new 10-year lease. CBRE listed the asset for sale on March 27, as the COVID-19 situation began to inflict deep economic losses on Arizona and the U.S. The property was sold in 60 days at a 4.77 percent cap rate, according to a statement by the brokerage, highlighting the continued appeal of income properties in Arizona to investors from California.<\/p>\n

Located at 16420 N. Scottsdale Road, the building sits within a dense retail area, which includes the adjacent The Promenade shopping center. The single-tenant property is also 1 mile from Kierland Commons, an outdoor shopping mall, with Scottsdale Airport is roughly 2 miles away. The surrounding area also includes some of Arizona\u2019s largest employers, such as Mayo Clinic and Republic Services.<\/p>\n

This month, another CBRE team completed the sale<\/a> of Woodlake Crossing, a 159,703-square-foot retail power center in San Antonio.<\/p>\n

If you\u2019d like to be featured in Brokers\u2019 Corner, simply fill in <\/em>our short form<\/em><\/strong><\/a> or send your deal to <\/em>deals@cpe-mhn.com<\/em><\/strong><\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Completed last year, the 1,700-square-foot single-tenant building in Scottsdale, Ariz., is leased to The Coffee Bean & Tea Leaf.<\/p>\n","protected":false},"author":868,"featured_media":1004365520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,1601,21749,15],"tags":[32789],"class_list":["post-1004456260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-phoenix","category-retail","category-west","tag-cbre"],"acf":[],"yoast_head":"\nCBRE Completes Sale of Phoenix-Area Retail Property - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Completes Sale of Phoenix-Area Retail Property\" \/>\n<meta property=\"og:description\" content=\"Completed last year, the 1,700-square-foot single-tenant building in Scottsdale, Ariz., is leased to The Coffee Bean & Tea Leaf.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-16T10:22:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T11:18:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"827\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sergiu Inizian\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/\",\"name\":\"CBRE Completes Sale of Phoenix-Area Retail Property - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg\",\"datePublished\":\"2020-06-16T10:22:21+00:00\",\"dateModified\":\"2025-02-26T11:18:03+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/77efc8abfd11ea13ed9ee7a0e190eb2a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg\",\"width\":827,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CBRE Completes Sale of Phoenix-Area Retail Property\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/77efc8abfd11ea13ed9ee7a0e190eb2a\",\"name\":\"Sergiu Inizian\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b7d8372f9eadc9bebc87c14d0e66818c9440b37b6a497cf451851469b8741a4b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b7d8372f9eadc9bebc87c14d0e66818c9440b37b6a497cf451851469b8741a4b?s=96&d=mm&r=g\",\"caption\":\"Sergiu Inizian\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/sergiui\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"CBRE Completes Sale of Phoenix-Area Retail Property - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/","og_locale":"en_US","og_type":"article","og_title":"CBRE Completes Sale of Phoenix-Area Retail Property","og_description":"Completed last year, the 1,700-square-foot single-tenant building in Scottsdale, Ariz., is leased to The Coffee Bean & Tea Leaf.","og_url":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-06-16T10:22:21+00:00","article_modified_time":"2025-02-26T11:18:03+00:00","og_image":[{"width":827,"height":400,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg","type":"image\/jpeg"}],"author":"Sergiu Inizian","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/","url":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/","name":"CBRE Completes Sale of Phoenix-Area Retail Property - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg","datePublished":"2020-06-16T10:22:21+00:00","dateModified":"2025-02-26T11:18:03+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/77efc8abfd11ea13ed9ee7a0e190eb2a"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg","width":827,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/cbre-completes-sale-of-phoenix-area-retail-property\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"CBRE Completes Sale of Phoenix-Area Retail Property"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/77efc8abfd11ea13ed9ee7a0e190eb2a","name":"Sergiu Inizian","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b7d8372f9eadc9bebc87c14d0e66818c9440b37b6a497cf451851469b8741a4b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b7d8372f9eadc9bebc87c14d0e66818c9440b37b6a497cf451851469b8741a4b?s=96&d=mm&r=g","caption":"Sergiu Inizian"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/sergiui\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/CPE-Brokers-Corner-827x400.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004456260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/868"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004456260"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004456260\/revisions"}],"predecessor-version":[{"id":1004533976,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004456260\/revisions\/1004533976"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004365520"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004456260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004456260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004456260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}