PHOENIX, ARIZONA – 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 Sun Devil Auto, a 5,795-square foot net-leased property located in Phoenix, Arizona.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,750,000 ($475 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. Sun Devil Auto is located in the Ahwatukee Foothills Park Place Shopping Center along with major retailers like Target, Sprouts Farmers Market, Best Buy, HomeGoods, AMC Theater, JCPenney, Mountainside Fitness, etc.
Built in 1993, the property is situated within a dense retail corridor along the Interstate-10 freeway, home to several shopping centers including Ahwatukee Foothills Town Center, Chandler Pavilions and The Shoppes at Casa Paloma. Sun Devil Auto is also positioned on a major east-west arterial thoroughfare, visible to 43,070+ vehicles per day on Ray Road. The property is easily accessible to 209,108 residents within a five-mile radius in the heart of Phoenix’s growing Ahwatukee community. Sun Devil Auto is located at 5104 East Ray Road in Phoenix, Arizona.