Marcus & Millichap Arranges the Sale of Jack in the Box Sale-Leaseback in Parker, AZ

PARKER, 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 Jack in the Box Sale-Leaseback, a 2,800-square foot triple-net-leased property located at 205 West Riverside Drive in Parker, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,775,000 ($634 PSF).

Chris Lind, Jamie Medress, Mark Ruble and Nick Christifulli, 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. Jack in the Box Sale-Leaseback has a brand-new 20-year absolute NNN sale-leaseback and was newly constructed in 2018, including a drive-thru, on the last developable parcel before Native American/Tribal land. The property has 6,804 residents within a five-mile radius and excellent visibility along Riverside Drive (18,930 vehicles per day).



EEGEE’s Coming to Houghton Town Center

TUCSON, ARIZONA — Eegee’s has purchased a 28,685-square-foot pad at 10158 East Old Vail Road at Houghton Town Center in the Vail area for $515,000 ($18 PSF).

In 1971, two enterprising oung men, Ed Irving and Bob Greenberg , pooled their resources and carefully cultivated their vending truck business into what is now a 24-location restaurant chain that specializes in, among other items, their signature frozen fruit drink. In the beginning, you might have met Ed or Bob serving their lemon eegee’s drink in front of high schools, at sporting events and concerts. And today you can still order the same lemon eegee’s that Bob and Ed first started selling in ’71. Fortunately, there are now more flavors to choose from (lemon can get old after 46 years) and you can order a sandwich or other baked goods to complement your eegee’s, but it’s essentially the same cup of brain-freezing fruit goodness that was served truck-side more than 40 years ago.

Eegee’s has grown significantly since its early days. Not only has the chain expanded to 25 locations (yes, this will be its 25th at Houghton Town Center), it paired this growth with a true commitment to social and environmental involvement. Since its inception, eegee’s has donated time, food and money to local charities as well as instituting the community recycling program Recycling for People First!

In 2006 the eegee’s restaurants changed hands from Ed Irving and Bob Greenberg to the O’Connor family (CEO Foods, Inc.), continuing the family-owned-and-operated tradition on which Eegee’s was founded.

Jeramy Price of Volk Company represented the seller, Houghton Developers, LLC, an affiliate of Diamond Ventures. Dave Dutson with NAI Horizon represented the buyer, EEGEE’s LLC.

For more information, Price should be reached at 520.441.4771 and Dutson can be contacted at 520.326.2200.

To learn more, see RED Comp #7330.

 



NAI Horizon represents seller in $1M land, building sale in Town of Wickenburg

PHOENIX, ARIZONA – NAI Horizon partnered with of Nathan & Associates to sell the former 5,000-square-foot bank building and 4.3-acre site on which it sits in the Town of Wickenburg.

The site, located at 1980 Wickenburg Way, will house the new police headquarters and communication center for the growing town 65 miles northwest of Phoenix.

The accompanying land will be developed for other town services.

NAI Horizon represented Vulture Peak Properties Limited Inc. of Phoenix in the sale totaling $1 million. NAI Horizon Vice President Troy Giammarco and Associate Joe Pequeno and Sean Gillespie with Nathan & Associates brokered the sale on behalf of the seller.

“We are very excited to acquire this great property that will provide increased public safety to our growing community,” said Vince Lorefice, Wickenburg Town Manager. “Our experience with NAI and Nathan & Associates through the process was great.”

The Town of Wickenburg represented itself.

“Vince and the team at the Town of Wickenburg were thorough and conscientious, keeping the residents’ needs first and foremost in their decision to move forward creating a win-win for all parties involved,” Giammarco said.