Colliers International Completes $2.28 Million Sale of a Property Occupied by Circle K Gas & Convenience Store in Phoenix, AZ

Phoenix, AZ, July 18, 2012. – Colliers International, the third largest global real estate services organization, has completed the $2,285,000 sale of a single-tenant, NNN leased retail property occupied by a Circle K Gas Convenience store (top left photo) in Phoenix, Ariz.

Built in 1987, the property totals 3,078 square feet and is located at 1901 West Cactus Road.

Chris Maling (middle right photo) and David Maling (lower left photo), senior vice presidents with Colliers International represented the seller, Fullerton, Calif.-based D.E.E Holdings, LLC. The buyer was a family trust from La Jolla, Calif. and was represented by Jon Boland of Voit Real Estate Services in San Diego. The transaction closed at a 7.35 percent cap rate.

“This investment offered the buyer no landlord responsibilities as well as 12 years remaining on the long-term lease with several rental increases during that time,” said

David Maling. “Single tenant triple net properties with a national credit retailer such as this offer a stable and passive investment with favorable year over year returns.”

 “The buyer was sourced through our database of brokers throughout California,” said Chris Maling. “We leveraged our team structure to provide the property to many qualified buyers as well as reach out to our outside brokerage community.”

 This Circle K Gas & Convenience Store is located on the corner of West Cactus Road and North 19th Avenue. It is near several apartment complexes and commercial businesses with a traffic count in the surrounding area of more than 50,000 cars per day.

Contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224

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