SRS Real Estate Partners announced earlier this month it had completed the $4.22 million ground lease sale of a 4,500-square-foot newly developed single-tenant property occupied by a new Chick-fil-A coming to Queen Creek this summer.
Situated on 1.48 acres, the property is located at the northwest corner of Ironwood and Ocotillo roads in Queen Creek. The Chick-fil-A is set to open in June at 30 W. Ocotillo Road.
SRS Capital Markets Managing Principals Matthew Mousavi and Patrick Luther, who are based in the firm’s Newport Beach office, and SRS Vice President John Toben, who is out of the Phoenix office, represented the seller, a private developer. The buyer was a California-based private investor.
“SRS has closed approximately $50 million of Chick-fil-A assets over the past 12 months, giving our firm the highest market share of all brokerages for this product nationally,” said Luther. “Chick-fil-A continues to grow in revenue and locations across the United States and has been a highly attractive and passive ownership opportunity for investors.”
He added that this asset closed escrow prior to the tenant opening for business. The property features a double drive-thru at a signalized intersection and is an outparcel to the newly built Safeway-anchored shopping center.
In 2023, SRS Capital Markets completed approximately $2 billion in deal volume comprised of 495 transactions in 43 states. SRS currently has in excess of 600 properties actively on the market with a market value surpassing $2.85 billion. Founded in 1986, more information on SRS Real Estate Partners can be found here.
The new Chick-fil-A is currently seeking "friendly faces to join our team" at this location opening next month in Queen Creek. Hiring information can be found here.
