Cottonwood, AZ – A former Circle K property in the heart of Cottonwood sold this week for $413,000 or $161 per square foot. Nick Miner, CCIM & J.T. Taylor of ORION Investment Real Estate brokered the sale for the Seller, Wells Fargo Bank. This is the second property that Miner and Taylor brokered for Wells Fargo Bank. The Cottonwood property garnered a lot of interest, but ultimately was sold to the previous occupant, Circle K, as an owner/user.
The building was constructed in 1977 at 10 South Main Street. At the southwest corner of Main Street and Mingus Avenue, the property is well locted for gas/convenience. Main Street is at the heart of Cottonwood’s Old Town which boasts over 60 businesses that attract visitors and support local residents. Three are 5 Wine & Spirit Tasting Rooms, 13 Cafes and Restaurants, 9 Antique Stores, 6 Galleries, 3 Boutique Hotels, Shops and Boutiques, Historic Tours, Nature Trails and the Verde River, and Live Performances at the Old Town Center for the Arts.
Regarding the sale this week, Nick Miner, CCIM commented, “This is the second asset we have sold for Wells Fargo Bank this year. We had multiple offers on the property. Circle K ended up exercising their right of first refusal to purchase the property after we had already negotiated a sale with a potential owner/user.”