PHOENIX — Cushman & Wakefield on Thursday announced that the real estate services firm has arranged an off-market sale of a restaurant property totaling 2,721 square feet at 4250 W. Thunderbird Road in Phoenix.

The building was completed in 2025 and sold for $2.9 million. Farmer Boys burger restaurant is the only tenant and will remain in operation through the sale.

The Cushman & Wakefield team of Chris Hollenbeck and Shane Carter represented the seller, 43 Thunderbird, LLC. The property was acquired by Investment Property Exchange Services, Inc.

“This transaction demonstrates the continued demand for newly built, net-leased quick-service restaurant assets in high-visibility Phoenix locations,” Hollenbeck stated in a news release. “Securing a buyer off-market and closing within 40 days underscores the property’s exceptional appeal and the efficiency of our process. The asset’s ease of access, modern amenities and strong national tenant make it a standout investment in today’s market.”

Editor's note: The above was republished from a Cushman & Wakefield news release.