Zack House, Waylan Heers, 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 buyer, a limited liability company, was procured by Andrew Knudsen, an investment specialist in Marcus & Millichap's Salt Lake City office. The property has a new 20-year absolute triple-net lease with 10% rental increases every five years.
Super Star Car Wash is located at 1335 West Warner Road in Tempe, Arizona. Based in the growing Tempe trade area half a mile of the I-10 Freeway, the property is surrounded by national retailers like IKEA, Lowe's, Kick's Sporting Goods, Main Event, Costco, The Home Depot and more. Population in the immediate area is projected to increase by 14% by 2025 and average household income exceeds $107,000 within a three-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.
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Marcus & Millichap Inc. published this content on 29 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2021 20:11:19 UTC.
