Marcus & Millichap Arranges the Sale of a Net-Leased Walgreens in Phoenix

Phoenix, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Walgreens, a 13,905-square-foot net-leased property located in Phoenix, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,075,000.

Mark Ruble, Jamie Medress and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, an individual/personal trust, was also procured by Lind, Medress and Ruble. Walgreens is located at 2435 East Greenway Parkway in Phoenix with excellent visibility near the intersection of Greenway Parkway and Cave Creek Road. The property was built in 1999 and is situated on 2.64 acres of land. Walgreens is about one mile from Route 51, a major connector for the Phoenix area, and it is surrounded by national retailers such as The Home Depot, Family Dollar, McDonald’s and more.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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