Marcus & Millichap arranges sale of 4,441-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 Black Bear Diner Ground Lease, a 4,441-square foot net-leased property located in Laveen, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $2,710,200.

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 Kirk Trammell, David Cutler and Joshua Johnson, investment specialists in Marcus & Millichap’s Palo Alto office.

Black Bear Diner Ground Lease is located at 3530 W Baseline Rd in Laveen, AZ.