QUEEN CREEK, Ariz., January 6, 2020 – 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 Bridgestone Ground Lease, a triple-net ground-leased property located in Queen Creek, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1.5 million ($34 PSF).
Mark Ruble, Jamie Medress 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 also procured by Ruble, Medress and Lind.
Bridgestone Ground Lease is located at 21443 South Ellsworth Road in Queen Creek, Arizona. Newly constructed in 2019, the 6,458-square-foot property is located on 1.02 acres and has a new 20-year NNN ground lease.