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Sonic observes a limited schedule for its Monday opening - from 10 a.m. to 10 p.m. - and then kicks in a full schedule starting July 1 with hours of 7 a.m. to midnight, said Rune Harkestad, vice president of Kidder Mathews, a commercial real estate firm in Bellevue.
Sonic will do a limited schedule opening from 10 a.m. to 10 p.m. starting June 18 and then a full schedule starting July 1 with hours of 7 a.m. to midnight, said Rune Harkestad, vice president of Kidder Mathews, a commercial real estate firm in Bellevue, in a Tuesday email.
Kidder Mathews' Giovanni Napoli and Philip Assouad brokered the deal, which was worth about $144,000 per unit. KM also provided transaction details.
The sale was an absolute triple-net leaseback to the seller, Arciterra Cos., a real estate investment and development company. The property features 8,501 square feet of Class A office space.
Ms. Bennett stated the Camelback Corridor "has never been stronger in terms of lease rates and occupancy. The frequency of owner-users executing on the sale and leaseback option is likely to increase over the next several years," she said.
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The sale was an absolute NNN leaseback to the seller, Arciterra Companies, a real estate investment and development company. Kidder Mathews commercial real estate broker, Jenette Bennett, represented Biltmore in the transaction.
The seller, Rimrock, LP and Partners LLC, a commercial real estate investment company, was represented by Kidder Mathews multifamily investment brokers, Jim Neil, Eric Comer, Merrick Matricardi and Bryan Calhoun, in the transaction.
The buyer, Mills Trust, was represented by Kidder Mathews multifamily investment brokers, Merrick Matricardi, Jim Neil and Eric Comer, as well as Dylan Wright and Chris Saver of ACRE.
The property is currently the largest educational campus for sale on the West Coast according to brokers with Kidder Mathews who have the listing for the property.
The offering represented the first time Casa Del Mar had been on the market. The original owner had not changed in almost 60 years. The property was meticulously maintained and primarily required interior updating to bring it to current renovation st
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