YUMA, AZ – 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 O'Reilly Auto Parts, a 7,000-square-foot net-lease property located in Yuma, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1.3 million ($186 PSF)
“Maximum exposure led to multiple competitive offers resulting in the highest probability transaction with a 1031 tax exchange buyer,” said Sanford Burstyn in Marcus & Millichap’s Phoenix office. Burstyn had the listing to market the asset and procured the 1031 exchange buyer from San Diego, California.
O'Reilly Auto Parts is located at 11274 South Fortuna Road in Yuma, Arizona. The building was built in 2003, is well-exposed to heavy traffic, great access, abundant parking, includes its own monument sign and upside in rent.