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| RETAIL |
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The Future of the Quick-Service Restaurant Industry
(Source: propertychronicle.com) |
Benjamin Farthing joined CBRE’s Net Lease Property Group in Phoenix in 2018 as an associate. When selling a single-tenant Dutch Bros Coffee that year, he gave his prediction to prospective buyers that quick-service restaurants with only drive-thru and to-go options would be the future. Since then, national brands such as McDonald’s, Chipotle, and Taco Bell have introduced prototypes that only allow off-premise dining. According to Ben, “A smaller-footprint building allows quick-service restaurants to open new stores in urban infill locations that they otherwise could not have.” This concept will allow these companies to focus on the drive-thru, which already drives most of their sales, and lower their net investment costs for new locations.
Click Here to Access Full Article |
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| ECONOMY |
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Phoenix Leads the Country in Population Growth, Again
(Source: azbigmedia.com) |
According to Redfin, the Phoenix valley had the highest net migration of any metropolitan area in the United States in 2020 with ±82,601 new residents. As a result, Arizona was one of the hottest housing markets in the country in 2020, which is expected to continue in 2021. Phoenix, the largest city in Arizona, continues to drive population growth due to its affordability and warm climate. Scottdale, one of Phoenix’s neighboring cities, is appealing to new residents due to its tourism, high employment rate, and great schools. Tempe is home to Arizona State University, one of the largest universities in the United States with over 55,000 students at the Tempe campus. Arizona’s strong economy and stable housing market makes it one of the top migration destinations in the country.
Click Here to Access Full Article |
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| SELECT PROPERTIES FOR SALE | |
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| Location: | | Mesa, AZ |
| List Price: | | $1,875,000 |
| Cap Rate: | | 4.40% |
| Lease Term: |
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15 Years |
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| Location: | | Cave Creek, AZ |
| List Price: | | $2,100,000 |
| Cap Rate: | | 4.15% |
| Lease Term: |
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±9.5 Years |
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| Location: | | Gilbert, AZ |
| List Price: | | $2,700,000 |
| Cap Rate: | | 4.44% |
| Lease Term: |
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20 Years |
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