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 First Watch & Mattress Firm Shops, a 8,846-square-foot retail property located in Tucson, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $4.3 million ($486 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 property is 100 percent leased with 10-year triple-net leases.
Built in 2019, First Watch & Mattress Firm Shops is located at 1080 West Irvington Road in Tucson, Arizona. The property rests across the street from Tucson Spectrum, a major shopping center with national retailers including Target, The Home Depot, Harkins Theaters, JCPenney, PetSmart, Michael’s, Old Navy, Best Buy, etc. Based in the growing Tucson trade area, First Watch & Mattress Firms Shops is easily accessible to 205,523 residents within a five-mile radius.
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