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.