Phoenix, Arizona – CBRE announced the sale of a single tenant net investment sale of a BrakeMAX in Marana (Tucson), Ariz. sold to a 1031 exchange buyer, 6055 Jenna Nicole, LLC, a private Tucson-based investor for the asking price of $2.06 million. ($377 PSF) in one of the first sales being reported in 2021.
CBRE’s Nancy McClure in Tucson, along with Philip D. Voorhees and Jimmy Slusher in Newport Beach, Calif. represented the local private seller. The buyer was represented by Danny Gardiner and Chad Tiedeman, Phoenix Commercial Advisors, Phoenix, AZ.
The property, located at 6055 W. Jenna Nicole Lane, consisting of a single use automotive service building of 5,464-square-feet that was built in 2003 for BrakeMAX.
BrakeMAX is a regional operation owned by a New York Private Equity group, Greenbriar Equity with 16 locations across greater Tucson.
“This property attracted a number of offers from highly-qualified buyers,” said McClure. “This commercial asset type is extremely attractive to high-net-worth individuals, family offices and other investors—especially those looking for necessity-oriented net lease properties like this one. It is internet-proof and continued to operate during the pandemic.”
For more information, McClure should be reached at 520.323.5117.
To learn more, see RED Comp #8407.