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Marcus & Millichap Arranges the Sale of Raising Cane’s Ground Lease, a 1.70-Acre Property in Phoenix

September 29, 2021

PHOENIX, September 29, 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 Raising Cane's Ground Lease, a 1.70-Acre property located in Phoenix, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $3,875,000.

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.

Raising Cane's Ground Lease is located at 5301 West Indian School Road in Phoenix, Arizona. The property is situated in a major retail corridor near Walmart, Ross, Ace Hardware, McDonald’s, 99 Cent Only Stores and more. This is a new 15-year absolute triple-net ground lease with 10% rental increases every five years.

 

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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.

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