Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sierra Crossings, a 17,955-square foot retail property located in Scottsdale, Ariz., according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $5.5 million.
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. The buyer, a limited liability company, was secured and represented by Doug Fielding, an investment specialist in Marcus & Millichap’s Phoenix office.
Sierra Crossings is located at 11300 East Via Linda Road in Scottsdale, AZ. The property consists of one single-tenant retail building (freestanding Tutor Time) and one multi-tenant retail building that includes four other tenants.