Cushman & Wakefield announced today that the Starbucks, located 5360 E. Carefree Highway in Cave Creek, Arizona, has been sold for $2.2 million to Mountain Park Investors.
Cushman & Wakefield Senior Director Chris Hollenbeck represented the seller, Park West Development. Nicholas Diamond of Real Estate Investment Group represented the buyer.
The recently completed, single-tenant property is located at the northwest corner of Cave Creek Road and the Carefree Highway. The 2,000-square-foot property is under a brand new 10 year lease with Starbucks, the largest and most successful coffee retailer in the world. The facility is also in close proximity to many national retailers including Fry’s, Walmart, Lowe’s, Home Depot, Chevron, CVS and McDonald’s.