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Real estate

Freddy’s restaurant property sells for $3.7 million

A retail property occupied by Freddy’s Frozen Custard & Steakburgers in Gilbert’s Morrison Ranch area has sold for $3.7 million, according to commercial real estate website vizzda.com.

The transaction closed Aug. 17. The buyer is an entity affiliated with Patterson Farms, led by John H. Patterson and Erin Patterson. The seller is an entity affiliated with Barclay Group, led by Scott T. Archer.

No financing was recorded with the sale, indicating the property was acquired in an all-cash transaction.

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