Marcus & Millichap arranges sale of AAA property in Goodyear

Posted 7/9/20

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Wednesday, July 9 the sale of AAA, a …

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe.

For $5.99, less than 20 cents a day, subscribers will receive unlimited access to the website, including access to our Daily Independent e-edition, which features Arizona-specific journalism and items you can’t find in our community print products, such as weather reports, comics, crossword puzzles, advice columns and so much more six days a week.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor

Marcus & Millichap arranges sale of AAA property in Goodyear

Posted

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Wednesday, July 9 the sale of AAA, a triple-net-leased property in Goodyear.

According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, AAA sold for $4 million.

Mark Ruble, Chris Lind and Jamie Medress, 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, according to a release.

Alan Laulainen, an investment specialist in Marcus & Millichap’s Phoenix office and the referring agent in this transaction, found the buyer while marketing another listing in the area. The buyer, a limited liability company, was represented by Matt Hagar with Intero Commercial, a family member of theirs.

“The buyer was looking for a stable credit tenant deal with a long-term NNN lease in an industry that was considered essential (open during the pandemic),” Mr. Laulainen stated. “They had 1031 exchange funds to place and this AAA asset I introduced them to fit their needs perfectly.”

AAA was built in 2019 at 15578 W. McDowell Road.

The property includes a new, 10-year absolute triple-net corporate lease with 10% rental increases every five years, the release states.

The 8,540-square-foot property built on a 1.15-acre lot has excellent visibility near the intersection of North Pebblecreek Parkway and West McDowell Road, which sees more than 29,000 vehicles per day.

According to Marcus & Millichap, 142,559 people reside within five miles of the property and have an average annual household income of $92,099.

Comments