Marcus & Millichap Arranges the Sale of Chipotle, AT&T, & Cici’s in Mesa, AZ

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MESA, 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 a 9,198-square foot retail property with three corporate-leased tenants, Chipotle, AT&T, & Cici’s, located in Mesa, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $6,480,000 ($705 PSF).

Jamie Medress, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the retail property on behalf of the seller, a partnership. The property, an out-parcel to a Target-anchored shopping center, is located at 1411 South Power Rd in Mesa where it is visible to over 49,000 vehicles per day. Positioned directly off US-60 and 2.5 miles from AZ-Loop 202, it can be easily accessed by the 270,000+ residents within a five-mile radius.

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