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 Starbucks Drive-Thru Shops, a 8,283-square-foot retail property located in Mesa, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $5,070,000 ($612 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, another limited liability company, was secured and represented by Ruble and Lind. This retail shopping strip is 100 percent leased to a diverse tenant profile including Starbucks, California Fill Grill and Visionworks.
Built in 1999, this retail shopping strip has excellent visibility to over 76,470 vehicles per day along South Stapely Drive in the growing Mesa trade area. The property is easily accessible to 430,092 residents within a five-mile radius. Starbucks Drive-Thru Shops is located at 1855 South Stapley Drive in Mesa, the third-largest city in the state of Arizona.