Marcus & Millichap has announced the sale of Walgreens, a 13,905-square-foot net-leased property found within municipal bounds of the city of Tempe.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $4.2 million.
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services.
Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a partnership, a press release states.
This Walgreens location is at 1825 E. Warner Road, visible to more than 42,000 vehicles per day at the nearby intersection of East Warner Road and South McClintock Drive. The asset includes a corporate guaranty from Walgreens and approximately seven years remaining on the lease term.
The property was built in 1998 on 1.87 acres.