MESA (PHOENIX), 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 Verizon, a 4,000-square-feet net-leased property located in Mesa, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3,301,600 ($825 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, Lind and Zack House, an investment specialist in Marcus & Millichap’s Phoenix office.
Built in 2017, Verizon is a relocation store for the largest wireless telecommunication provider in the United States. The property is on a dominant retail corridor across from The Landing at Fiesta Village, 240 high-end mixed-use apartments with restaurants and commercial space. Excellently positioned on a hard corner, it is visible to over 36,400 vehicles per day. Verizon is located at 1305 South Alma School Road in Mesa, Arizona.