CBRE has completed the sale of a single-tenant, 3,200-square-foot Freddy’s Frozen Custard and Steakburgers located at 1785 East 16th Street in Yuma, Arizona. The Property commanded a sale price of $3 million.
Joseph R. Compagno and Ryan Eustice with CBRE’s Phoenix office represented the Seller, Barclay Holdings LXVIII, LLC; an affiliate of Arizona-based Barclay Group. Chris Monson and Brandon Goodman from Mountain West Retail/Investment Commercial Real Estate represented the Buyer, Utah-based Landen Properties II, LLC.
“Freddy’s is actively expanding throughout Arizona and is a very well-known tenant nationally.” Said CBRE’s Compagno. “The buyer that our team sourced was a Utah-based 1031 exchange investor who placed new financing on the property through CBRE.”
Freddy’s Frozen Custard & Steakburgers is a fast-casual restaurant franchise, known for premium, lean, ground beef steakburgers and dessert treats, prepared with freshly-churned chocolate or vanilla frozen custard. Freddy’s has over 250 restaurants operating nationwide.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated 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.