Christian Brothers Automotive

Property Overview

Christian Brothers Automotive is a 4,933 SF single-tenant retail property built in 2017 and located at 1618 N Higley Rd in Gilbert, Arizona. The property is occupied by Christian Brothers Automotive under a 15-year absolute net lease and was purchased directly from the original developer.

Challenge

Our team was engaged to identify and acquire a replacement property for a repeat client completing a 1031 exchange. The assignment required sourcing a suitable asset within the constraints of exchange timelines while meeting the client's criteria for passive, low-management income. The goal was a new construction property with a long-term, absolute net lease structure that would provide durable cash flow without landlord obligations.

Action

We focused the search on single-tenant net-leased assets with strong tenants, long remaining lease terms, and minimal landlord responsibilities. Christian Brothers Automotive in Gilbert, Arizona met each of those criteria: a 2017-built property, a 15-year absolute net lease, and a direct purchase from the original developer. Our team guided the client through the acquisition process, coordinating due diligence and keeping the transaction on track to satisfy the 1031 exchange requirements.

Result

• Acquired a 4,933 SF single-tenant property for $2,991,000 ($606 per SF)
• Secured a 15-year absolute net lease with no landlord responsibilities
• Purchased directly from the original developer
• Successfully completed the transaction as part of a 1031 exchange for a repeat client