Cushman & Wakefield negotiates $2M sale
Cushman & Wakefield of Arizona’s Retail Services Division negotiated the $2 million sale of 1312 N. Scottsdale Rd., which will be the new home of Fate Brewing Company.
Brian Kocour and Courtney Auther Van Loo of Cushman & Wakefield represented the seller, SBI Leasing Inc. of Scottsdale. Scottsdale-based real estate investor Tom Frenkel was the buyer and was self represented.
Steve McFate of Fate Brewing Company announced he would be expanding his craft beer operation by occupying more than 10,000 SF of the almost 15,000 SF building. The expansion will include a sizeable “beer garden” style patio and 19-foot interior ceiling heights.
McFate will continue to brew his small batch, limited-release beers at his current location just east of Scottsdale Road on Shea Boulevard. He will brew his flagship beers at the new location.
“Tom Frenkel saw an opportunity with a former restaurant of this size combined with abundant parking on Scottsdale Road,” Kocour said. “The McDowell Road corridor has a promising future. This is just the beginning of the unique, vibrant business making a home in this area.”
With five locations already in the Valley, Plato’s Closet consignment store will occupy the remaining space in the building. The sale price commanded $133.69 per square foot.