Sale of a 13,100-SF Retail Property in Phoenix Fetches $8.125 Million
PHOENIX, 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 WSS Shoes & Habit Burger, a 13,100-square-foot retail property located in Phoenix, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $8,125,000 ($620 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 personal trust, was procured by Peter James and Rob Narchi, investment specialists in Marcus & Millichap’s West Los Angeles office.
WSS Shoes & Habit Burger is located at 5120 & 5110 West Indian School Road in Phoenix, Arizona. The shopping center is across the street from American Family Fields of Phoenix Baseball Park, spring training home to the Milwaukee Brewers. Situated in a major retail corridor, the asset is visible to over 46,200 cars per day along the major thoroughfare West Indian School Road and easily accessible to 490,040 residents within a five-mile radius in the dense Phoenix infill.