Press Releases
Marcus & Millichap Announces Sale of Brand-New Dutch Bros Coffee Location in Peoria, Arizona
October 21, 2024
PEORIA, Ariz., Oct. 21, 2024 – 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 a brand-new Dutch Bros Coffee location in Peoria, Arizona. The property sold for $3.09 million.
“The property was under contract within 60 days of hitting the market,” said Zack House, first vice president investments. “The buyer is using the property to satisfy his 1031 requirement, and the seller is a preferred developer for Dutch Bros. This location is operated by the largest franchisee in Arizona.”
House, Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Columbus and Phoenix offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
The property, located at 9145 N 91st Ave., is a newly constructed, high-quality building featuring a drive-thru and a 15-year absolute triple-net lease. The asset sits on 0.98 acres directly off the Loop 101 Freeway, a major connector for the Phoenix MSA. It is situated near the high-traffic intersection of Olive Avenue and 91st Avenue, receiving visibility from approximately 37,500 vehicles per day.
“The property was under contract within 60 days of hitting the market,” said Zack House, first vice president investments. “The buyer is using the property to satisfy his 1031 requirement, and the seller is a preferred developer for Dutch Bros. This location is operated by the largest franchisee in Arizona.”
House, Chris Lind and Mark Ruble, investment specialists in Marcus & Millichap’s Columbus and Phoenix offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
The property, located at 9145 N 91st Ave., is a newly constructed, high-quality building featuring a drive-thru and a 15-year absolute triple-net lease. The asset sits on 0.98 acres directly off the Loop 101 Freeway, a major connector for the Phoenix MSA. It is situated near the high-traffic intersection of Olive Avenue and 91st Avenue, receiving visibility from approximately 37,500 vehicles per day.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
