TUCSON, 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 Planet Fitness, a 25,000-square-foot net-leased property located in Tucson, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $4.8 million($192 PSF).
Mark Ruble 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, a limited liability company, was procured by Ruble and Lind.
Built in 2018, Planet Fitness is located within Tucson Spectrum, a major shopping center with retailers including Target, The Home Depot, Harkin Theatres, JCPenney, PetSmart, Michaels, Old Navy, Best Buy, etc. Adjacent to the Interstate-19 freeway, the primary connector for Tucson and Phoenix, the property is easily accessible to 205,523 residents in the Growing Tucson Trade Area. Planet Fitness is located at 4755 South Calle Santa Cruz in Tucson, Arizona.