CBRE Facilitated $3.65 Million Sale of Former Salty’s Building in Scottsdale

CBRE’s Joe Compagno and Benjamin Farthing negotiated the $3.65 million sale of 3748 North Scottsdale Road, the former Salty’s building in Old Town Scottsdale. The Shipp Family, a longtime investor in Scottsdale, purchased the building from a private individual investor.

“This is a historic trade on Scottsdale Road in Old Town Scottsdale, as this real estate rarely trades hands,” said Mr. Compagno, senior vice president at CBRE. “The Shipp family, who owns several buildings north of the new Good Life property, purchased the building in an all-cash transaction, with only a 25-day total escrow period.”

Good Life Sports Bar and Grill signed a 10-year triple net lease of the property. Based out of Omaha, Nebraska, this will be the first location in Arizona. The bar and grill is known across its five Nebraska locations for its friendly atmosphere and homemade food menu.

The generational two-tenant investment is in the heart of Scottsdale; it was built in 1957 and is currently being renovated for the new sports bar and grill to open next year. The property is located on the corner of Scottsdale Road and 2nd Street.