PHOENIX,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 The Human Bean, a 800-square-foot absolute triple-net net-leased property located in Phoenix. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,585,000 ($1,981 PSF).
Mark Ruble, Jamie Medress and Chris Lind, 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.
The Human Bean is located at 20055 North 19th Avenue in Phoenix, directly off the Loop 101 Freeway at a hard corner, signalized intersection. It was recently constructed in 2018 and has a brand-new 15-year NNN lease with 10% increases every five years.