Special to Independent Newsmedia
CBRE negotiated the $6.1 million sale of a new downtown Phoenix Chick-fil-A ground lease at 819 N. 7th Avenue.
CBRE Senior Vice President Joseph Compagno and Benjamin Farthing of CBRE's Phoenix office represented the seller, local developers, Mark Davis of 48 Development, and Benjamin and Allan Gutkin of Jag Development Phoenix.
"This is a unique property near the Phoenix skyline," Compagno shared in a press release. “The parcel is larger than average at 1.45 acres, features a long two-lane drive-thru, and a big format building of 5,388 square feet with 58 parking spaces."
Chick-fil-A is the third-largest fast-food chain in the U.S. and opened this month at the southeast corner of 7th Avenue and Roosevelt Street in downtown Phoenix.
