MARICOPA, Ariz., – 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 Edison Place, a multi-tenant retail property located in Maricopa, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $4,578,000 ($511 PSF).
The buyer, a limited liability company, was secured and represented by Scott Ruble, Jamie Medress, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office. Edison Place is located at 44565 West Edison Road in Maricopa, Arizona. The 8,958-square-foot property was built in 2019 and sits on 1.04 acres. The two medical tenants, SimonMed Imaging and Heartland Dental are on a brand-new 10-year triple-net lease. Over the past 15 years, households in the area have grown over 33,000, ensuring growth in the area and consistent traffic to the property.