GILBERT, 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 Sun Devil Auto, a 5,000-square-foot net-leased property located in Gilbert, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $4,070,000 ($814 PSF).
“The buyer was trading out of a residential investment property in Southern California and seeking a NNN property with less managerial responsibilities,” shared Zack House, senior associate in Marcus & Millichap’s Phoenix office.
The buyer, an individual/personal trust, was procured by House, Mark Ruble and Chris Lind investment specialists in the firm’s Phoenix office. Sun Devil Auto is located at 658 South Gilbert Road in Gilbert, Arizona.