A two-tenant retail center in Casa Grande sold for $4.45 million to Amir Fateh Amirian by an entity formed by the Hinkson Company LLC, according to CBRE who represented the sellers in the transaction.
The 45,327-square-foot retail center is home to a Dollar Tree and Mor Furniture For Less at 1314 E. Florence Blvd., in Casa Grande.
The retail center sits on 4.63 acres of land. Andrew K. Fosberg with CBRE’s Phoenix office represented the seller, HH-Casa Grande 2 LLC, an entity formed by Phoenix-based Hinkson Company LLC (Chris Hinkson & James Neal, principals).
Adrian Van Rijs of Capitol Realty represented the buyer, Amir Fateh Amirian.
“This was a recently remodeled two-tenant retail building within the larger Casa Grande Shopping Center along Florence Boulevard, which is the major retail corridor in Casa Grande,” said CBRE’s Fosberg. “The seller recently leased the vacant anchor space to Mor Furniture For Less, which is their first location outside the Phoenix metropolitan area in the Arizona market. The Property sold for a 7.1 percent cap rate to a private investor from California completing a 1031 Exchange.”
