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CBRE Brokers Single-Tenant Retail Property Sale in Scottsdale

CBRE arranged the $2.14 million sale of 16420 N. Scottsdale Rd., a 1,700-square-foot single-tenant retail property leased to The Coffee Bean & Tea Leaf. The buyer was Newport Beach, CA-based Monarch Real Estate Holdings, LLC, while the seller was KAFE, LLC.

The property, which includes a drive-thru, was built in late 2019 and offers a new 10-year lease with The Coffee Bean and Tea Leaf.

CBRE’s Ian Schroeder, Melissa Ley and Allison McDuffie represented the buyer. CBRE’s Joseph Compagno, Benjamin Farthing and Jared Davis advised the seller.

CBRE’s Compagno says, “The buyer was attracted to the rare opportunity to acquire a single-tenant Coffee Bean drive-thru in North Scottsdale. We listed the property for sale on March 27th during the early stages of the COVID-19 pandemic. The property was sold in 60 days, start to finish, at a 4.77% cap rate. This transaction demonstrates the continued flight of investors from California seeking Arizona income property.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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