ARIZONA CITY, Ariz., November 9, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Family Dollar, an 8,320-square-foot net-leased property located in Arizona City, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,489,600 ($179 PSF).
Zack House, 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.
Built in 2019, Family Dollar is four miles off of the Interstate-10 freeway which provides direct access to both Phoenix and Tucson, and hosts over 45,000 vehicles per day. The asset is minutes from Promenade at Casa Grande whose list of major tenants include Dillard’s, JCPenney, Harkins Theaters and Kohl’s. Family Dollar is also in close proximity to Robson Ranch, a luxury, resort-style retirement community. Arizona City is one of the most rapidly developing areas in the state, and the average household income within a three-mile radius of the property exceeds $58,000. Family Dollar is located at 14438 South Sunland Gin Road in Arizona City, Arizona.