CORFAC News

February 23, 2015 — Surprise, AZ: Commercial Properties, Inc., Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of Surprise Auto Center in Surprise, Arizona. Eric Jones of CPI's Investment Specialist Team represented the new owner, Peiterson Keil, LLC.  

Peiterson Keil, LLC purchased the ±20,640 SF retail strip center at 11541 W Bell Road, which was built in 1981. Surprise Auto Center has frontage on the south side of Bell Road just west of 115th Avenue.  

Eric Jones commented: "My client, Peiterson Keil, LLC  looked at several markets in the western U.S., and views Phoenix as a market with growth potential. This purchase was based on the uniqueness of a multi-tenant automotive center, the price per square foot, and value add."

The previous owner, Mirkin Rachelle Family Trust, was represented by Basham Realty in Denver Colorado. Peiterson Keil, LLC  purchased the ±20,640 SF property at a value of $1.375 million.

Commercial Properties Inc. has been retained for the leasing and management of this multi-tenant automotive center.

Eric Jones may be contacted for additional information and leasing at ejones@cpiaz.com or 480.966.8671.

About Commercial Properties Inc./CORFAC International
CPI is a CORFAC International affiliate, full-service Brokerage and Property Management firm for all product types. Headquartered in Tempe, the company has more than 50 brokers and occupies two offices locally. Currently, CPI's listings include over ±16.7 million square feet for sale/lease, and 140 projects under property management, totaling more than 5 million square feet. Please visit our web site at www.cpiaz.com.