Marcus & Millichap Facilitates the Sale of Pep Boys, a 9,100-SF Net-Leased Property in Mesa

MESA, 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 Pep Boys, a 9,100-square-foot net-leased property located in Mesa, Arizona.

According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office. the asset sold for $3,076,000 ($338 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, an individual/personal trust. The buyer, a limited liability company, was procured Alex M. Frankel, investment specialist in the firm’s Columbus office, along with Ruble and Lind.

Built in 2001, Pep Boys is located at 1947 North Higley Road in Mesa, Arizona. With excellent visibility along North Higley Road to over 24,450 cars per day, Pep Boys also has direct access to the Loop 202 freeway hosting more than 80,800 vehicles per day. The asset is down the road from The Boeing Company’s corporate Mesa office hosting 3,700 employees and surrounded by national retailers like Walmart, Staples, Fry’s, Kohl’s, Burger King, Arby’s, AutoZone Auto Parts and more. Pep Boys is adjacent to Falcon Field Airport which contributes more jobs and economic benefit, over $811 million annually, than any other general aviation airport in the Phoenix area.