PEORIA, Ariz., (Oct. 24, 2024) – 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 a brand-new Dutch Bros Coffee location in Peoria, Arizona. The property sold for $3.09 million.
“The property was under contract within 60 days of hitting the market,” said Zack House, first vice president investments. “The buyer is using the property to satisfy his 1031 requirement, and the seller is a preferred developer for Dutch Bros. This location is operated by the largest franchisee in Arizona.”
House, Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Columbus and Phoenix offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
The property, located at 9145 N 91st Ave., is a newly constructed, high-quality building featuring a drive-thru and a 15-year absolute lease.