TUCSON, Ariz. – 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 Walgreens, a 14,490-square foot net-leased property located in Tucson, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,442,748 ($169 PSF).
Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, another limited liability company, was procured by Lind and Ruble.
Walgreens is located at 1351 West Prince Road in Tucson, Arizona. Built in 2001, the asset is one mile off of the Interstate-10 freeway, the primary connector for Tucson and Phoenix. Across from Flowing Wells High School with more than 1,600 students, Walgreens is highly visible to nearly 46,500 cars per day at the signalized hard corner of Flowing Wells Road and Prince Road. Walgreens in the heart of the growing Tucson trade area, accessible to 224,519 residents within a five-mile radius.
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