Oct. 17, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of IHOP, a 4,332-square foot net-leased property located in Casa Grande, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $1,892,000.
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.
IHOP is located at 2064 East Florence Boulevard in Casa Grande, AZ. The lease is guaranteed by Romulus, Inc., one of the largest and most respected franchisees of IHOP. They currently operate 47 locations in Arizona, Pennsylvania, Oklahoma and Idaho.