Marcus & Millichap announced the sale of a Dollar General located in Phoenix. The a 9,026 SF net-leased property sold for $1.65M, according to John Vorsheck, regional manager of the firm’s San Diego office.
The buyer, a private investor, was secured and represented by Brian Barnard and Sam Hanna, investment specialists in Marcus & Millichap’s San Diego office. Regional Manager, Don Morrow, assisted in closing this transaction.
Located at 1855 W. Buckeye Rd. in Phoenix, this asset has brand new structure with an absolute triple-net lease with Dollar General. The new 15-year original lease commenced on March 20 and provides for a 3 percent rent increase in year 11, and 10 percent rent increase at each of the three five-year extension options.
