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Marcus & Millichap arranges sale of AAA property in Goodyear

Posted 7/9/20

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Wednesday, July 9 the sale of AAA, a …

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Marcus & Millichap arranges sale of AAA property in Goodyear

Posted

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Wednesday, July 9 the sale of AAA, a triple-net-leased property in Goodyear.

According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, AAA sold for $4 million.

Mark Ruble, Chris Lind 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, according to a release.

Alan Laulainen, an investment specialist in Marcus & Millichap’s Phoenix office and the referring agent in this transaction, found the buyer while marketing another listing in the area. The buyer, a limited liability company, was represented by Matt Hagar with Intero Commercial, a family member of theirs.

“The buyer was looking for a stable credit tenant deal with a long-term NNN lease in an industry that was considered essential (open during the pandemic),” Mr. Laulainen stated. “They had 1031 exchange funds to place and this AAA asset I introduced them to fit their needs perfectly.”

AAA was built in 2019 at 15578 W. McDowell Road.

The property includes a new, 10-year absolute triple-net corporate lease with 10% rental increases every five years, the release states.

The 8,540-square-foot property built on a 1.15-acre lot has excellent visibility near the intersection of North Pebblecreek Parkway and West McDowell Road, which sees more than 29,000 vehicles per day.

According to Marcus & Millichap, 142,559 people reside within five miles of the property and have an average annual household income of $92,099.