Marcus & Millichap Arranges the Sale of Jack in the Box Sale-Leaseback in Parker, AZ
PARKER, Arizona – 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 Jack in the Box Sale-Leaseback, a 2,800-square foot triple-net-leased property located at 205 West Riverside Drive in Parker, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,775,000 ($634 PSF).
Chris Lind, Jamie Medress, Mark Ruble and Nick Christifulli, 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. Jack in the Box Sale-Leaseback has a brand-new 20-year absolute NNN sale-leaseback and was newly constructed in 2018, including a drive-thru, on the last developable parcel before Native American/Tribal land. The property has 6,804 residents within a five-mile radius and excellent visibility along Riverside Drive (18,930 vehicles per day).