Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Circle K, a triple-net ground-leased property located in Goodyear. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3,275,000.
Mark Ruble, Jamie Medress and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Circle K is located at the signalized southwest corner of Pebble Creek Parkway and McDowell Road at 15535 W. McDowell Road.
The property was newly constructed and opened in early December 2019. The 5,187-square-foot property is situated on 1.93 acres in a future Winco Foods anchored center with over 200,000 square feet of planned retail. It has just under 20 years remaining on its triple-net corporate ground lease with 5% rental increases every five years.