TUCSON, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Sherwin-Williams Shops, a 7,448-square foot retail property located in Tucson, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3.075 million ($413 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 retail shopping strip is 100 percent leased to a diverse tenant profile including Sherwin-Williams, One Stop Nutrition and Luxe Nails. Each suite has a triple-net lease.
Irvington Interstate Partners West, LLC (Don Bourn, Manager) was the seller.
Built in 2019, this retail shopping strip rests on a 1.07-acre parcel of land in the growing Tucson trade area. The property is located at 4830 South Calle Santa Cruz, across the street from Tucson Spectrum, a major shopping center with retailers including Target, The Home Depot, Harkins Theaters, JCPenney, PetSmart, Michaels, Old Navy, Best Buy, etc. Adjacent to the Interstate-19 freeway, the primary connector for Tucson and Phoenix, the shops are accessible to 205,523 residents and over 211,930 employees within a five-mile radius.
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