PHOENIX, 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 Dutch Bros Coffee Ground Lease, a 1.14 acre net-leased property located in Phoenix, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,759,000 ($56 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 buyer, another limited liability company, was procured by Lind and Ruble. The area site was leased to Dutch Bros and is a relocation of the tenant’s #1 site in the Phoenix metropolitan area.
Dutch Bros Coffee Ground Lease is easily accessible to 425,826 Phoenix residents within a five-mile radius and within walking distance of three high schools in the area. Dutch Bros is located at 4433 North 7th Street in Phoenix, Arizona, directly across the street from the VA Medical Center.