Marcus & Millichap Arranges the Sale of Super Star Car Wash, a 4,517-SF Net-Leased Property in Peoria
PEORIA, ARIZONA, (December 23, 2022)– 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 Super Star Car Wash, a 4,517-square-foot net-leased property located in Peoria, Arizona. The asset sold for $6,217,000.
Zack House, 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 House, Ruble and Lind. The deal includes a brand new 20-year absolute triple-net (NNN) lease with corporate guaranty, excellent tenant financials, and 10 percent rental increases every five years.
Built in 2019, Super Star Car Wash is primely located at 8150 West Thunderbird Road on the Peoria retail corridor, anchored by Lowe’s and Sprouts Farmers Market. Surrounding tenants include Starbucks, Burger King and Dutch Bros Coffee. The asset is down the road from the P83 Entertainment District, home to the Peoria Spots Complex, retail and restaurants.