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 O’Reilly Auto Parts, a 7,000-square-foot net-leased property located in Phoenix, AZ, according to John Vorsheck, regional manager of the firm’s San Diego office. The asset sold for $1,750,000.
Robb Johnson and Jorge D. Jimenez, investment specialists in Marcus & Millichap’s San Diego office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was secured and represented by Thomas Farrand and Christopher J. Zorbas , investment specialists in Marcus & Millichap’s San Diego office. Don Morrow, Broker, assisted in closing this transaction.
O’Reilly Auto Parts is located at 3310 W Southern Avenue in Phoenix, AZ. The subject property was built in 2007 and is strategically located within Laveen Pavilions, a 71,773-square-foot shopping center anchored by Dollar Tree, Aaron Rents, Walgreens and Taco Bell.