Marcus & Millichap Arranges the Sale of Absolute Triple-Net Leased Wendy’s in Scottsdale, AZ
SCOTTSDALE, Ariz.,– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Wendy’s, a 3,193-square-foot, triple-net-leased property located in Scottsdale, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,050,000.
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. Wendy’s is located at 15416 North Pima Road in North Scottsdale with excellent visibility from the Loop 101 freeway. The property was built in 1996, situated on 0.4 acres of land, and is an outparcel to a Best Buy and Staples anchored shopping center. An estimated 153,159 residents live in the growing North Scottsdale trade area of the Phoenix MSA, with an average household income within a five-mile radius of the property exceeding $131,000.