3626 E Indian School Rd
Phoenix, AZ 85018
Gino's East of Chicago · Retail Property For Sale

Gino's East of Chicago | Now Open | Strong Sales CBRE is pleased to present a very rare opportunity to purchase an urban infill Gino's East of Chicago restaurant, which also includes a new Verizon cell tower lease. The property is located at 3626 East Indian School in the Arcadia neighborhood of Phoenix, Arizona. This site is located just south of the prestigious Camelback corridor. The Gino's East investment offering consists of a brand new 10 year triple net (NNN) single tenant lease. The lease includes 10% rental increases every five years, with Two (2), Five (5) year options for the tenant to renew. The building is estimated to be 4,431 rentable square feet on approximately 21,780 square feet of land. The investment offers an opportunity to own real estate with one of Chicago's most iconic tenants. The offering also includes a new Verizon 5 year cell tower lease, with Four (4), Five (5) year options. The lease has a 6% increase starting Lease Year 6 and then 2% annual increases thereafter. This Arcadia location is operated by a Gino's East franchisee that has been hand selected by Gino's East corporate. This franchisee has the full rights to Arizona and plans to do additional locations in 2017 and 2018. The subject property is located in the heart of the Phoenix metropolitan area where real estate values are enhanced due to the lack of available land for development. The area boasts a large employment center with approximately 110,881 jobs within three miles and 350,125 jobs within a five mile radius. The affluent Arcadia area is two miles northeast of the subject and is full of upscale and unique residential properties. The average household income in Arcadia is $104,167. Just a few minutes northeast of Arcadia is Paradise Valley, one of the most affluent areas in Phoenix boasting incredible mountain views, an abundance of multi-million dollar homes and major resorts such as the Omni Scottsdale Resort and Spa at Montelucia. Downtown Scottsdale is four miles east and is an area known for its Old West feel with an appealing combination of nightlife, galleries, retail, restaurants and southwestern cultural attractions. Gino' s East is prominently positioned on the north side of Indian School Road just east of 36th Street, and is 1.5 miles north of the Loop 202/I-10 Freeway and approximately 2 miles east of SR 51 Freeway.