GLENDALE, Arizona – 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 BevMo!, a 14,956-square-foot net-leased property located in Glendale, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $4,765,000 ($319 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 buyer, another limited liability company, was procured by Ruble and Lind.
Built in 2000, BevMo! is situated along the dense Bell Road retail corridor, surrounded by numerous national retailers. Two miles off the Loop 101 and Interstate 17 freeways, the location is visible to over 61,800 vehicles per day on the hard corner of West Bell Road and North 67th Avenue. There are 329,015 residents within a five-mile radius in the Phoenix MSA with an average household income exceeding $94,000 annually. BevMo! is located at 6712 West Bell Road in Glendale, Arizona.