Show Low, Ariz., (June 4, 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 Show Low Small Bay Industrial Park, a 17,200-square-foot industrial property located in Show Low, Arizona.
The asset sold for $2,175,000 ($126 PSF).
“Small Bay industrial properties have maintained impressive occupancy rates and rising rents for several years, and in recent months they have increasingly stood out as one of the best performing categories of commercial real estate,” commented Cory Gross. “While big-box distribution centers are facing headwinds as the large amount of new development has driven up vacancy rates, in contrast smaller industrial properties like this property have outperformed mainly to their insulation from supply-side risk. We received multiple offers on this property, and it sold to a California investor diversifying into similar investments across Arizona.”
Gross, first vice president of investments in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a private investor. Gross also procured the buyer, a private investor. Ryan Sarbinoff, regional manager and Arizona broker of record, assisted in closing this transaction.
Show Low Small Bay Industrial Park is at 1241 East Lumbermans Loop in Show Low, Arizona. These two industrial properties are 100% leased and sit on 1.49 acres. The property is in the downtown area, adjacent to US Route 60 and the Show Low Regional Airport.