PINETOP-LAKESIDE, ARIZONA – Circle K sold today for $1,080,000 or $416 per square foot. Nick Miner of ORION Investment Real Estate represented the Seller, Goldberg Family Trust/Wells Fargo and Buyer, JAKS Properties I, LLC was represented by Drew Macnab of First Street Commercial.
The 2,595 square foot free-standing retail building was constructed in 1968 for Circle K. The Buyer purchased the building as an investment since it was under a long term lease.
We received multiple offers on this. The buyer was selected because of their aggressive terms. From open to close, this took less than 60 days, Miner said.
There was a bidding war for this asset, Miner said. It is tough to find this type of credit tenant at this price point.
We selected this Buyer because they already owned other Circle K’s as well as their short due diligence period.
This is the 3rd asset I have sold for this Seller.