Marcus & Millichap Arranges the Sale of a 14,490-Square Foot Net-Leased Property

Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Walgreens, a 14,490-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 $7,900,000.

Mark Ruble and Jamie Medress, 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.  Josh Sciotto, a mortgage broker with Marcus & Millichap Capital Corporation also of the Phoenix office structured the 10-year term, 25-year amortization, 4.10 percent rate loan for the acquisition.

Walgreens is located at 6838 N. 7th St. in Phoenix.

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