NAI Horizon Associate John Toben represented the buyer in the acquisition of the $3.33 million investment property sale of a newly constructed Kneaders Bakery and Café at 4126 E. Indian School Rd., in Phoenix.
Toben represented Scottsdale-based LEP Properties, LLC, in the transaction.
“The highly-desired Arcadia neighborhood is now home to a healthy option on the go,” Toben said. “Kneaders Bakery and Café offers the first healthy, fast-casual drive-through in the rapidly growing Arcadia retail corridor. It will be a welcomed addition for those who live or work in the Arcadia/Biltmore area.”
Kneaders Bakery and Café’s master franchisee, Four Foods Group, continues a rapid expansion with 39 locations across California, Arizona, and Utah, according to Toben. The company plans to operate 57 locations by the end of 2017.
“The new Arcadia site boasts the top location in Four Foods Group’s present Kneaders Bakery and Café portfolio,” Toben said.
FFG Development was represented by CBRE’s Andrew Fosberg and Joseph Compagno.
The grand opening of the new location is scheduled for Friday, July 22.