SRS Real Estate Partners Completes $4.22 Million Ground Lease Sale of a Chick-fil-A Property in Queen Creek, Arizona

SRS Real Estate Partners announced today it has completed the $4.22 million ground lease sale of a 4,500-square-foot newly developed single-tenant property occupied by Chick-fil-A. Situated on 1.48 acres, the property recently opened and is located on the northwest corner of Ironwood Road and Ocotillo Road in Queen Creek, AZ.

SRS Capital Markets Managing Principals Matthew Mousavi and Patrick Luther who are based in the firm’s Newport Beach office and SRS Vice President John Toben who is out of the Phoenix office represented the seller, a private developer. The buyer was a California-based private investor.

“SRS has closed approximately $50 million of Chick-fil-A assets over the past 12 months, giving our firm the highest market share of all brokerages for this product nationally,” said Luther. “Chick-fil-A continues to grow in revenue and locations across the United States and has been a highly attractive and passive ownership opportunity for investors.”

He added that this asset closed escrow prior to the tenant opening for business. The SRS team secured a number of offers as its dense, infill, and affluent market location is also in the thriving, business-friendly state of Arizona.

The property features a double drive-thru at a signalized intersection and is an outparcel to a newly built Safeway anchored shopping center.

In 2023, SRS Capital Markets completed approximately $2 billion in deal volume comprised of 495 transactions in 43 states. SRS currently has in excess of 600 properties actively on the market with a market value surpassing $2.85 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit