Marcus & Millichap makes two major deals

Real Estate | 9 Jul |

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Safeway – 20 Year Lease, a 55,259-square foot net-leased property located in Laveen (Phoenix), AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $9,800,000.

Jamie Medress\ 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 limited liability company. 

“The NLAG utilized their wide reach of broker relationships to successfully pair the needs of a broker with a client in a 1031 exchange, and close the deal all cash in under 30 Days,” says Medress.

Safeway – 20 Year Lease is located at 5035 W Baseline Rd in Laveen (Phoenix), AZ. 

In addition, Marcus & Millichap announced the sale of Pep Boys, a 9,100-square foot net-leased property located in Mesa, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $2,554,017.

Henry Kerson, an investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a private investor.

An out of state buyer was procured by a cooperating Marcus and Millichap agent after multiple offers were received through our exclusive listing process. The buyer paid full list price to facilitate a 1031 exchange. The acquisition was financed with favorable debt through our Marcus and Millichap Capital Corporation Capital Advisor, Josh Sciotto,” says Kerson.

  The buyer, a private investor, was secured and represented by Jamie Medress, Mark Ruble and Zack House, investment specialists in Marcus & Millichap’s Phoenix office. 

Pep Boys is located at 1947 N Higley Rd in Mesa, AZ. 

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