Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced April 19 the sale of Filiberto’s, a 2,200-square-foot, net-leased property at 891 S. Cotton Lane in Goodyear.

Ryan Sarbinoff, regional manager of the firm’s Phoenix office, said in a release the building sold for $1.6 million.

Mark Ruble 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.

The buyer, an individual/personal trust, also was procured by Ruble and Lind, the release stated.

The property was built in 2020 on just under an acre of land, and includes an absolute triple-net lease with 19 years remaining and 10% increases every five years, the release stated.

About Marcus & Millichap

With more than 2,000 investment sales and financing professionals located throughout the U.S. and Canada, Marcus & Millichap (NYSE: MMI) is a leading specialist in commercial real estate investment sales, financing, research and advisory services.

Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion.

For more information, visit  MarcusMillichap.com.