GOODYEAR, 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 AAA, a triple-net-leased property located in Goodyear, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $4,000,000.
Mark Ruble, Chris Lind and Jamie Medress, 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. Alan Laulainen, an investment specialist in Marcus & Millichap’s Phoenix office and the referring agent in this transaction, found the buyer while marketing another listing in the area. The buyer, a limited liability company, was represented by Matt Hagar with Intero Commercial, a family member of theirs. “The buyer was looking for a stable credit tenant deal with a long-term NNN lease in an industry that was considered essential (open during the pandemic),” Laulainen explained. “They had 1031 exchange funds to place and this AAA asset I introduced them to fit their needs perfectly.”
AAA was newly built in 2019 at 15578 West McDowell Road in Goodyear, Arizona. The property includes a new 10-year absolute triple-net corporate lease with 10% rental increases every five years. The 8,540-square-foot property built on a 1.15-acre lot has excellent visibility near the intersection of North Pebblecreek Parkway and West McDowell Road, which sees over 29,000 vehicles per day. Within five miles of this AAA, approximately 142,559 people reside and have an average annual household income of $92,099.