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 two Circle K locations, a 3,006-square foot net-leased property located in Phoenix, AZ, and a 5,532 square foot net leased property located in Glendale, AZ according to Ryan Sarbinoff, regional manager of the firm’s Phoenix office.
The assets sold for $1,428,500 and $2,085,500, respectively.
“Our team’s advisory approach allowed us to work with our seller to export capital into alternative markets that offer more tax advantages,” said Chris Lind, an investment specialist in Marcus and Millichap’s Phoenix office. “This event provided an excellent opportunity for the Buyer to procure two seasoned, corporate credit, net-leased properties in infill locations within the Phoenix MSA.”
Lind had the exclusive listing to market the properties on behalf of the seller, a limited liability company. The buyer, another limited liability company, was secured and represented by Jamie Medress and Mark Ruble, also based in the Phoenix branch of Marcus and Millichap.
The Phoenix asset is located at 3402 N 16th Street while the Glendale location is at 24838 N 35th Avenue.