TUCSON, Ariz. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Walgreens, a 15,120-square-foot net-leased property located in Tucson, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,900,763 ($192 PSF).
Chris Lind and Mark Ruble, 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 buyer, another limited liability company, was procured by Lind and Ruble.
Built in 2001, Walgreens has a new five-year lease extension. The property is visible to over 13,5000+ vehicles per day on the signalized hard corner of East Snyder Road and North Sabino Canyon Road. Based in the affluent Tucson trade area, average household income exceeds $134,000 and the location is accessible to 105,058 residents within a five-mile radius. Walgreens is located at 7877 East Snyder Road in Tucson, Arizona.
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