Marcus & Millichap Arranges $8.25 Million Sale of a 55,228-Square Foot Net-Leased Property

Tucson, AZ – 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 Safeway, a 55,228-square foot net-leased property located in Tucson, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $8,258,000.

Jamie Medress, Mark Ruble and Chris Lind, 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 buyer, a limited liability company, was secured and represented by John Susank, an investment specialist in Marcus & Millichap’s Newport Beach office.

“We continue to work closely with our Apartment Agents nationwide to assist in moving sellers out of their management intensive assets into more of a hands off long term investment,” says Medress. “The collaboration amongst the agents is second to none in the business and continues to yield unmatched results in the market.”

Safeway is located at 9100 N Silverbell Rd in Tucson, AZ.