Marcus & Millichap Arranges the Sale of O’Reilly Auto Parts in Yuma, AZ

YUMA, AZ – 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 O’Reilly Auto Parts, a 7,000-square-foot net-lease property located in Yuma, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1.3 million ($186 PSF)

“Maximum exposure led to multiple competitive offers resulting in the highest probability transaction with a 1031 tax exchange buyer,” said Sanford Burstyn in Marcus & Millichap’s Phoenix office. Burstyn had the listing to market the asset and procured the 1031 exchange buyer from San Diego, California.

O’Reilly Auto Parts is located at 11274 South Fortuna Road in Yuma, Arizona. The building was built in 2003, is well-exposed to heavy traffic, great access, abundant parking, includes its own monument sign and upside in rent.

NAI Horizon negotiates $4.15M land sale of Phoenix property that will house 135,000 SF flex building

PHOENIX, ARIZ. – NAI Horizon Senior Vice President Rick Foss represented the seller in the $4.15 million sale of 9.6 acres on which the buyer plans to construct a 135,000-square-foot office/showroom/warehouse building on the site.

NAI Horizon represented the Thomas and Olivia DuVall Trust of Phoenix in the land sale at 5824 S. 38th St., in Phoenix. The property was in escrow for almost a year while the buyer/developer rezoned it from S-1 to a Commerce Park/General Commerce Park (CP/GCP) option. The buyer/developer will construct the building for its tenant.

“This location is one of the last remaining large, undeveloped infill parcels in the Central Phoenix, Sky Harbor or North Tempe submarkets,” Foss said. “The sale price establishes a high-sale comp for infill land.”

The buyer, Bondar Holdings, LLC, an Arizona limited liability company, was represented by Ton Bagneschi of Insight Land and Investment.

Tony Elliott Promoted to Vice President of Media and Information Technology For Velocity Retail Group

Phoenix, Arizona — Tony Elliott has been promoted to Vice President of Media and Information Technology for Velocity Retail Group. As an 18-year member of the organization Tony’s position has evolved while assuming responsibility for the implementation of an expanded marketing and social media program as well as a formalized performance coaching program for all members within the company. On a national scale, his talents in media creation will be utilized within X Team Retail Advisors, to provide increased national services offerings for the 40+ member offices.

“We are excited to have Tony focus on utilizing his creative gifts in videography, photography and graphic design to bring our marketing program to a higher level,” said Dave Cheatham President of Velocity Retail Group, and President of X Team Retail Advisors. “Tony has many gifts that have helped catapult our branding and identity. From a technology perspective, his programming skills are continually utilized as our internal efficiencies receive improvements and upgrades in the moment to serve the needs of our clients,” he added.

Tony has a unique and varied background in I.T., programming, media, and team coaching. This expanded role will bring these talents and skills together to achieve the goals set by the organization for the next several years.

He can be reached at [email protected], 602-682-8110.