Press Releases
Marcus & Millichap Brokers $3.23M Sale of Net-Leased U.S. Bank Property in Gilbert, Arizona
March 17, 2025
GILBERT, Ariz., March 17, 2025 – 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 net-leased U.S. Bank property in Gilbert, Arizona for $3,230,000.
"This sale underscores the continued demand for well-located, fundamentally sound assets in primary markets, making it an attractive opportunity for our out-of-state buyer," said Brennan Clegg, senior associate.
Mark Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, an Arizona-based LLC. Clegg, investment specialist in the firm’s Columbus office, procured the buyer, a Colorado-based LLC.
The U.S. Bank property at N. Higley Road and E. Michelle Way in Gilbert, Arizona, is a newly constructed 2023 building with a 10-year absolute triple-net ground lease backed by U.S. Bank. Located in City Gate Marketplace alongside major retailers, the site offers high visibility on a prominent hard corner with more than 32,280 vehicles passing daily. The property is adjacent to a new Valvoline and Whataburger under construction, as well as a 45,000-square-foot medical office development.
"This sale underscores the continued demand for well-located, fundamentally sound assets in primary markets, making it an attractive opportunity for our out-of-state buyer," said Brennan Clegg, senior associate.
Mark Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, an Arizona-based LLC. Clegg, investment specialist in the firm’s Columbus office, procured the buyer, a Colorado-based LLC.
The U.S. Bank property at N. Higley Road and E. Michelle Way in Gilbert, Arizona, is a newly constructed 2023 building with a 10-year absolute triple-net ground lease backed by U.S. Bank. Located in City Gate Marketplace alongside major retailers, the site offers high visibility on a prominent hard corner with more than 32,280 vehicles passing daily. The property is adjacent to a new Valvoline and Whataburger under construction, as well as a 45,000-square-foot medical office development.
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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.
