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Real estate
Three Phoenix buildings sell for $8.2M
Posted
A portfolio of three Phoenix retail buildings was sold for $8.2 million.
The businesses, at the corner of 32nd Street and Bell Road, were a 2,327-square-foot Chipotle, a 4,400-square-foot Sherwin-Williams, and a 0.04-acre Bikini Beans ground lease. Both the seller and buyer were unidentified limited liability companies.
Marcus & Millichap investment specialists Chris Lind and Mark Ruble represented the seller and the buyer.
The construction of Chipotle drive-thru is part of the company’s plan to outfit 60% of stores with a “Chipotlane.” Existing stores equipped with this drive-thru concept are among the company’s most profitable locations.
