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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
- ◦Sale/Acquisition

