SURPRISE, 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 RISE Services, Inc., a 8,936-square-foot net-leased property located in Surprise, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2 million ($224 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.
Built in 2003, RISE Services, Inc. rests on 1.01 acres of land in the growing Surprise trade area. With rare frontage on West Bell Road, the property is visible to 57,100+ cars per day, and easily accessible to 246,056 residents within a five-mile radius. Population and households in the immediate area are projected to increase nearly seven percent by 2025. The property has a new 15-year corporate guaranteed lease with two percent annual rental increases. RISE Services, Inc. is located at 12129 West Bell Road in Surprise, Arizona.