Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Panera Bread Ground Lease, a 4,200-square-foot net-leased property located in Chandler, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $2,123,000.
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.
Panera Bread Ground Lease is located at NEC Arizona Avenue and Ocotillo Road in Chandler, AZ. Panera is currently under construction and scheduled to be completed and open for business by April 2014.