Cushman & Wakefield announced today that the Goodwill, located at 2665 N. Power Road in Mesa, Arizona, has been sold for $6.2 million to C&P Properties, #1 LP.
Cushman & Wakefield Executive Vice President’s Chris Hollenbeck and Brent Mallonee represented the seller, Power & McDowell Development Partners, LLC. Warren Berzack of Lee & Associates LA North represented the buyer.
Recently completed in 2017, the single-tenant property is located at the southeast corner of Power Road and McDowell Road with a total rent area of 22,800 square feet. The facility is within a strong retail intersection in Mesa with Albertsons, Bashas’, LA Fitness and more. Featuring a drive-thru drop off, the property is easily accessed by the Loop 202 freeway.
“This transaction closed almost simultaneously with Goodwill opening and paying rent so that the purchase price could be maximized,” says Hollenbeck.
The single-tenant property is under a brand new 15 year lease with Goodwill Industries of Central Arizona, Inc. who has more than 60 stores in Arizona. Operating since 1947, Goodwill of Central Arizona is one of the 165 autonomous Goodwill organizations. All Goodwill retail stores have recently been remodeled or replaced to reflect a clean, modern image.