ARIZONA CITY, 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 Family Dollar, a double-net-leased property located in Arizona City, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,241,000.
Zack House, Mark Ruble, Jamie Medress 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, an individual/personal trust, was also procured by the team.
Family Dollar is located at 14510 South Sunland Gin Road in Arizona City, one of the most rapidly developing areas in the state. Households are projected to increase over 27% in the immediate area by 2022. Family Dollar is just four miles from the Interstate-10 which sees over 43,700 vehicles per day and provides direct access to Phoenix (59 miles away) and Tucson (60 miles away). This 8,320-square-foot building was newly constructed in 2019 on 1.25 acres, and the brand-new double-net lease has approximately 9.5 years remaining.