Jackie Day is editorial director of
Real Estate Media's Newsletter Division
AVONDALE, AZ-A single-tenant, auto-parts store on a pad site atAvondale Fiesta Shopping Center has traded hands for $1.3 millioncash barely two months after its construction. The 6,000-sfbuilding, leased to Checker Auto Inc., was sold by parent companyCSK Auto Corp., to Hyperion-Avondale LLC, a group of three localinvestors that expects to make similar deals in the future.
In the deal, Phoenix-based CSK leased back the two-month-oldbuilding for 15 years with a five-year option. Hyperion-Avondale'sprincipals are Jan P. Fincham, Patrick A. Dempsey and ChrisStamets. Fincham and Dempsey are brokers at Lee & AssociatesArizona in Phoenix. "We will hold this as an investment, five yearsor longer probably," Fincham tells GlobeSt.com.
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