CHANDLER, Ariz. – 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 New Horizons Women’s Care, a 14,118-square-foot office property located in Chandler, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $5,425,000.
Alan Laulainen, 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. “The sellers were looking to capitalize on the current market pricing and were elated with the level of activity we received,” said Laulainen. “Our process yielded multiple offers from qualified investors which ended in a bidding war driving up the price. We successfully exceeded the client’s expectations with no changes to the originally proposed leaseback structure,” he added. The buyer, a California 1031 exchange buyer, plans to hold the property for an investment.
New Horizons Women’s Care is located at 1900 West Frye Road in Chandler, just across the street from Chandler Regional Hospital and within Dobson Village Medical Park.