GILBERT, ARIZ., August 26, 2019 – 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 Dairy Queen, a 3,200-square-foot triple-net-leased property located in Gilbert, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,650,000.
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 limited liability company. The buyer completed a 1031 exchange.
Dairy Queen is located at 2770 South Santan Village Parkway just south of East Williams Field Road in Gilbert, Arizona. The 3,200-square-foot property was recently built in 2018 on a 1.41-acre lot. It is ideally located near multiple grocery stores such as Costco, Sam’s Club, Sprouts and Natural Grocers as well as large retailers including Walmart Supercenter, Big Lots, Old Navy, Dick’s Sporting Goods, Barnes & Noble and Best Buy. Restaurants in the immediate area include McDonald’s, Panera, Chick-fil-A, In-N-Out Burger, Starbucks, 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.