MESA, Ariz. – 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 Black Rock Coffee, a triple-net-leased property located in Mesa, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. The asset sold for $1,375,000 ($722 PSF).
The buyer, a partnership, was procured by Chris Lind, Jamie Medress and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office. Black Rock Coffee is located at 1132 South Gilbert Road in Mesa, Arizona, strategically neighboring Mesa High School.
This 1,905-square-foot property was newly constructed in 2019 and sits on 0.36 acres. The tenant, Black Rock Coffee has a brand new 15-year lease. Black Rock Coffee is a modern coffee chain that was founded in 2008 in the state of Oregon. The company has experienced rapid growth throughout the Pacific Northwest and has since expanded to several other markets including California and Arizona, with over 50 locations and plans for more.