Marcus & Millichap announces sale of Sonic Ground Lease, a 1,374-square foot net-leased property

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Sonic Ground Lease, a 1,374-square foot net-leased property located in Phoenix, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $475,000.

Cassandra Mosser, an investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. “Due to the low price point of this deal we generated a handful of offers within a few days, which allowed us to close it over list price and have a quick & seamless escrow,” said Mosser. The buyer, a limited liability company, was secured and represented by Cassandra Mosser.

Sonic Ground Lease is located at 9606 N 19th Ave in Phoenix, AZ.