MARANA, 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 Dollar General, a 9,100-square-foot net-leased property located in Marana, Arizona.
The asset sold for $1,955,000 ($215 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 private investor. With more than seven years remaining on the triple-net corporate lease, the asset has multiple renewal options on lease term with 10 percent rental increases in each option. The tenant, Dollar General, is the nation’s largest small-box discount retailer, operating more than 17,000 locations as of early 2021.
Built in 2014, the asset is located at 12355 North Trico Road in Marana, Arizona. Dollar General is situated between the Pinal Airpark, the Arizona National Guard Western Army Military Base and the Marana regional Airport. On the corner of North Trico Road and West El Tiro Road, Dollar General is visible to over 7,000 vehicles per day. The asset is less than a 30-minute commune to Forbes five-star rated, world-class Ritz-Carlton Dove Mountain Resort, the Omni Tucson National Resort, the White Stallion Rach and the Tucson Premium Outlets. The city of Marana is among the fastest developing cities in Arizona, growing at a rate of nearly 150 percent since the year 2000.