Marcus & Millichap Brokers the Sale of 7 Eleven, a 2,400 SF Net Leased Property in Phoenix, Arizona

PHOENIX, July 17, 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 7-Eleven, a 2,400-square-foot net-leased property located in Phoenix, Arizona. The asset sold for $2,000,000.

"We appreciated the opportunity to represent our selling client on this property now for the second time," said Mark Ruble, investment specialist in Marcus & Millichap's Phoenix office. Ruble, Chris Lind and Zack House, also investment specialists in the firm's Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The sale included an absolute triple-net (NNN) corporate lease with five years remaining with 7-Eleven. "The tenant recently executed a lease renewal and the seller saw it as an opportunity to exit the property and move into new opportunities," added Ruble.

7-Eleven is located at 646 West Indian School Road in Phoenix, Arizona. This property has an easily accessible location near three major highway systems that include Interstate 10 and 17 as well as visibility to a combined 91,000 cars per day at the corner of North Seventh Street and West Indian School Road. The population is a dense Phoenix infill with 464,648 within a five-mile radius. The tenant has shown long-term commitment to the site by operating for 45 years at this location.

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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, 2023, the company had 1,783 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.