Former Pet Club Building Sells for $1.16 Million to Repurpose

GLENDALE, 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 a former Pet Club, a 6,200-square-foot single-tenant vacant property located in Glendale, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,160,000 ($187 PSF).

Cassandra Mosser, an investment specialist in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. “The property had been previously listed and exposed by two other brokers before I secured the assignment,” Mosser explained. “The transaction required an immense amount of time and effort which led us to the right buyer pool, and inevitably the final buyer.” The former Pet Club was purchased by a buyer that plans to lease the building and sell the asset soon after.

The former Pet Club property is located at 17024 North 67th Avenue in Glendale, Arizona. The property was built in 2000 and sits on 0.84 acres of land. It benefits from being located just off West Bell Road and North 67th Avenue, which is visible to over 54,300 cars daily. Additionally, this area is heavily populated area with almost 11,000 people within a one-mile radius, further contributing to the steady traffic counts in the area throughout the day.