Tom Semancik of the Phoenix office of Colliers International represented seller and buyer, AJA Investors of Paradise Valley, AZ. Semancik tells GlobeSt.com that the building was on the market for less than a month before receiving the offer from AJA, which plans to use the building as an income property.
Kustom Kar Sound and Arizona Autobody are the sole tenants in the 100%-occupied property. Semancik says Presson sold the building because it is no longer interested in automotive retail real estate.
The 15-year-old retail location is situated on a little more than a half acre near Interstate 10. The high-traffic location has 25,300 vehicles per day traveling the Glendale section of Camelback Road.
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