California Investor Acquires West Valley Retail Building for $2.89 Million
05 Nov 2018
CBRE negotiated the sale of a 10,017-square-foot multi-tenant retail building located at Coldwater Plaza in Avondale, Ariz., for $2.89 million. George Boukather, based in Newport Beach, Calif., acquired the property, located at 1461 N. Dysart Rd., from Sparty Holdings, LLC, based in Great Falls, Va. CBRE’s Steve Julius and Jesse Goldsmith represented the seller in the transaction.
Built in 2003, the four-tenant building is 87 percent leased to three existing tenants including Red Dragon Buffet, Cricket Wireless and CheckMate and is within proximity to Sam’s Club, Ashley Home Furniture and Home Depot, which anchor Coldwater Plaza.
The property is situated in metro Phoenix’s fast-growing Avondale/Goodyear submarket with access to the Valley via nearby Interstate 10. Downtown Phoenix and Phoenix Sky Harbor International Airport are within a 30-minute drive from the property.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.