The vacant building is at the northeast corner of Southern Avenue and 48th Street on the border between Phoenix and Tempe. The property is about a half mile west of Interstate 10 and the transition to Superstition Freeway. The investor plans to renovate the building and put in a Wendy's, which is ticketed to open in a few months.

Southern Retail Center LLC, a Phoenix-based investment company, is the seller. The Phoenix office of Marcus & Millichap, with brokers David Illsley and Cheryl Lennon, represented buyer and the seller in the transaction.

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