Evergreen Devco Opens, Sells Single-Tenant Retail Asset

Wilhelm Automotive-occupied pad is one of many new faces in center

Evergreen Devco, Inc., a leading retail and multifamily development company, announced that it has sold one of its single-tenant retail buildings, located at 15275 N. 35th Avenue in Phoenix, for $2,688,000. Wilhelm Automotive occupies the building.

Vico Partners, LLC, recently purchased the 5,569-square-foot asset after Wilhelm Automotive had a soft opening in late May.

“Evergreen Devco is proud to have worked with Wilhelm Automotive to bring new life to the intersection of 35th Ave & Greenway,” said Doug Leventhal, Principal and Chief Operating Officer with Evergreen Devco. “Wilhelm’s faithful history and their award-winning customer service compliments the retail mix of new faces that will add value to the community and deliver an experience that is both beneficial and enjoyable.”

The transaction is part of Evergreen’s 211,745-square-foot redevelopment project. Evergreen is converting the existing parking field, which was formerly a Kmart-anchored shopping center space, into five new pad developments.

Situated on 3.76 acres, the site is anchored by a Cube Smart self-storage facility. Wilhelm Automotive joins Black Rock Coffee and Salad and Go in the retail mix, with Quick Quack Car Wash being the next pad development.

RKAA Architects, Inc. designed the Wilhelm Automotive building, which is one of 14 locations across the Greater Metro Phoenix Area, and American Retail Contractors, LLC, was the general contractor. The Arizona-originated auto repair and tire store has served the valley for more than 90 years, having opened their first store in Peoria in 1928.

Joseph Compagno, R. Max Bippus and Benjamin Farthing of CBRE’s Net Lease Property Group in Phoenix represented the seller. Dylan Brown and Andrew Fosberg of CBRE Phoenix and California-based Chris Van Keulen of CBRE represented the buyer in the deal.

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