Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of US Bank Ground Lease, a 5,000-square foot net-leased property located in Phoenix, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $3.458 million.
Jamie Medress and Mark Ruble, 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.
US Bank Ground Lease is located at 3530 W. Southern Ave. in Phoenix. The property is located at an excelled retail intersection and this is the only free standing US Bank with a drive-thru in the trade area.