FLAGSTAFF, Arizona – 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 2,305-square-foot net-leased property, and Dunkin Donuts Ground Lease, a 0.30-acre property. Both parcels are located in Flagstaff, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, Verizon sold for $2,361,112 and Dunkin Donuts Ground Lease sold for $1,888,888.
Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the separate parcels on behalf of the seller, a limited liability company.
Verizon is located at 4429 US-89 in Flagstaff, Arizona. The property is under construction and accessibly to 53,615 residents within a five-mile radius. Verizon has a new 10-year lease with a franchisee guarantee and 10% rental increases every five years. Under construction in 2021, Dunkin Donuts Ground Lease is located at 4418 US-89 in Flagstaff, Arizona.