Marcus & Millichap Arranges Sale of 7,448-SF Retail Property in Tucson, AZ
TUCSON, Ariz., July 7, 2021 – 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 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 $3,075,000.
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.
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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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.