SURPRISE, Ariz. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Aspen Dental, a 3,550-square-foot net-leased property located in Surprise, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,643,000.

“Within the first week on the market, the seller had agreed to one of the multiple offers they received, allowing them to exchange into a larger NNN deal,” said Chris Lind, senior vice president in Marcus & Millichap’s Phoenix office. Lind, alongside Mark Ruble and Jamie Medress, both executive managing directors in the firm’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a private investor.

The buyer, a limited liability company, was procured by Karly Iacono, first vice president in Marcus & Millichap’s New Jersey office. “The buyer had very specific exchange criteria and was adamant about moving capital from the East Coast to Arizona,” Iacono said. “We were pleased to secure a quality deal matching the location, tenant type, and price the buyer was targeting.”

Aspen Dental is located at 17018 West Bell Road in Surprise, Arizona. Built in 2016 on 0.96 acres, the property has frontage on West Bell Road, making it visible to over 37,600 vehicles per day. This asset has six years remaining on its corporate double-net lease with Aspen Dental Management, Inc. including 10% rental increases every five years.

PAYSON, Ariz. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the portfolio sale of Star Valley Motel & Mobile Home Park and C-Bar Diamond Mobile Home & RV Park located in Payson, Arizona. According to John Vorsheck, regional manager of the firm’s San Diego office, the asset sold for $2,000,000.

“The attractive seller-financing terms, low vacancy, and our wide marketing campaign helped us to bring in several offers for these parks,” said Dustin Wilmer, investment specialist in Marcus & Millichap’s San Diego office. “The buyer comes from a long line of successful mobile home and RV park owner/operators and plans on making many upgrades to the park, starting with the roads. We are excited to see what these properties will look like at this time next year.”

“These parks have a total of 51 mobile home/RV sites, a nine-unit motel, three commercial units and two apartments, and are 100% occupied with no park owned homes,” added Michael Escobedo, investment specialist in the firm’s Phoenix office. Wilmer and Escobedo had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was also procured by Wilmer and Escobedo.

Star Valley Motel & Mobile Home Park is located at 3758 East AZ Highway 260 and C-Bar Diamond Mobile Home & RV Park is located at 3760 East AZ Highway 260, both in Central Star Valley across the street from City Hall on Highway 260 in Payson, Arizona.

Highlighted this week is a 3,200-square-foot retail space leased to Eegee’s that was handled by Terry Dahlstrom of VOLK Company represented the tenant,

The following leases have been submitted to the Real Estate Daily News for the Tucson Lease Report December 7-11.

RETAIL – 8906 E TANQUE VERDE RD., TUCSON
Eegee’s LLC, leased approximately 3,200-square-feet of space at 8906 East Tanque Verde Road within the Shoppes at Bears Path shopping center, from WRI Shoppes at Bears Path, LLC. Terry Dahlstrom of VOLK Company represented the tenant,

RETAIL – 800 N COUNTRY CLUB RD., TUCSON
Amazing Fitness, LLC leased approximately 2,957-square-feet within The Benedictine center at 800 North Country Club Road. The tenant will use the space for an F45 fitness facility. VOLK Company agents Debbie Heslop CCIM and Leah Bogen handled the lease.

INDUSTRIAL – 2030 N FORBES RD., TUCSON
Maren Laboratories, LLC, leased 2,377-square-feet of space located at 2030 N. Forbes, Suite 102-103B, Tucson, Arizona. Hank Amos of Tucson Realty & Trust Co., represented the Tenant and Max Fisher of Picor Commercial Real Estate, represented the Landlord in the transaction

RETAIL – 13160 E COLOSSAL CAVE RD., VAIL
Taco Giro has signed a lease for 1,750-square-feet located at 13160 E. Colossal Cave Road, Suite 100, Vail, AZ in Old Vail Station. This mixed-use project is located south of the southeast corner of Colossal Cave Road and Mary Ann Cleveland Way in Vail, AZ. Taco Giro is a family-owned business serving authentic Mexican food. This will be Taco Giro’s 6th Restaurant in the Tucson area and 8th restaurant in Arizona. The new restaurant is expected to open April 1, 2021. Craig Finfrock of Commercial Retail Advisors, LLC represented the Landlord, Vail Station and Birch Bay, LLC, and the Tenant represented itself in this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.792.2282[/mepr-show]

OFFICE – 7315 N ORACLE RD., TUCSON
Oracle Ina Investors LLC and SRP Two LLC leased 1,639-squarefeet at 7315 N. Oracle #203 within Two Oracle to Tiltify Inc. for an office and administration and tech sales and support. Kevin Volk of VOLK Company and Melissa Lal and Andy Seleznov of Larsen Baker represented the landlord.

RETAIL – 1980 W RIVER RD., TUCSON
Cui Huang and Libing Wang leased approximately 1,286-square-feet at 1980 W River Road for use as a reflexology and massage spa. Jeramy Price of VOLK Company represented the tenant.

Submit sales and leases to [email protected].