Phoenix Commercial Advisors facilitated the sale of three retail properties on the northeast corner of Ellsworth and Queen Creek roads — Shops at Terravella, Dutch Bros. Coffee and Valvoline.
Shops a Terravella, located on 3.03 acres at 20311 S. Ellsworth Road, Queen Creek, Ariz., sold off-market for $9,000,000 or $597 per square foot. The two shop buildings, totaling 15,078 square feet, were 100 percent leased to a strong mix of credit tenants, including Sport Clips, Heartland Dental, Batteries Plus, Athletico Physical Therapy and more.
A single-tenant Dutch Bros. Coffee on a 15-year ground lease, located on 0.69 acres at 20898 E. Queen Creek Road, Queen Creek, Ariz., sold for $1,875,000. The 1,150-square-foot building with drive-thru closed at $1,630 per square foot.
The final property to sell on the corner was a single-tenant Valvoline on a 15-year ground lease. Located on 0.99 acres at 20876 E. Queen Creek Road, Queen Creek, Ariz., the 2,100-square-foot building closed at $2,050,000 or $976 per square foot.
John Schweikert and Chad Tiedeman at Phoenix Commercial Advisors represented the seller in all three transactions. Zach Pace and Torrey Briegel at Phoenix Commercial Advisors provided leasing representation for the properties.
Formed in 1994, Phoenix Commercial Advisors is a commercial real estate services company. The company specializes in retail commercial brokerage in Phoenix, Tucson, and surrounding Arizona communities, providing leasing services, tenant and landlord representation, investment sales and redevelopment services to local and national retailers and property investors. Offering the expertise of 250 combined years of experience, Phoenix Commercial Advisors is also member of ChainLinks Retail Advisors, the premier national retail platform connecting elite brokerage companies across the top 50 North American markets.