P. Thomas and Mary Lou Edwards acquired the property through an all-cash transaction from seller El Centro Marketplace LP of Tucson, as part of a 1031 Exchange. "With the tenant being responsible for everything in terms of maintenance and property taxes, it makes for a nice investment for someone who doesn't have to be hands on," Barry Gabel, a senior vice president with Trammell Crow Co. in Phoenix, tells GlobeSt.com.

Located just off Interstate 8 at the 16th Street exit, the 10,015-sf restaurant was built last year.Fayetteville, NC-based Golden Corral signed a 20-year lease for a location that far exceeded its first-year sales expectations, according to Gabel. The restaurant, situated on 2.3 acres, is one of seven in Arizona, including eateries in Kingman, Thatcher, Prescott and Tucson.

Location, the tenant's credit worthiness and years in business were all factors in the sale, says Gabel. Local demographics include an abundance of retail offerings, fast-food eateries and a regional mall currently under development less than a mile east of the site. The Edwards' intend to manage the property, along with other office, industrial and retail properties they own in Phoenix.