CHANDLER, Ariz., April 14, 2023 – 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 AAMCO, a 4,411-square-foot net-leased property located in Chandler, Arizona.
The asset sold for $3,333,333 ($756 PSF).
Mark Ruble and Chris Lind, 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 deal includes a brand new 15-year absolute triple-net lease with a multi-unit franchise and 10 percent rental increases every five years.
AAMCO is located at the northwest corner of South Arizona Avenue and West Germann Road in Chandler, Arizona. The household and population of this area is projected to increase 10 percent in the immediate area by 2027 with 290,800 residents already residing within a five-mile radius. The asset is adjacent to a new Super Star Car Wash that is currently under construction and a new 556-unit luxury apartment. This location includes excellent visibility along Arizona Avenue with 32,500 cars per day and is situated less than one mile off the Loop 202 freeway, a major Phoenix area connector.