Marcus & Millichap, the nation’s largest real estate investment firm, has announced the $1.65 million sale of Dollar General, a 9,026 square-foot net-leased property located in Phoenix, AZ, 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 West Buckeye Rd. in Phoenix, AZ, this asset is brand new structure with an absolute triple-net lease with Dollar General. The new 15 year original lease commenced on March 20, 2014 and provides for a 3 percent rent Increase in year 11, and 10 percent rent increases at each of the three five-year extension options.