Marcus & Millichap Inc.
12/02/2024 | Press release | Distributed by Public on 12/02/2024 15:59
Marcus & Millichap Arranges The Sale Of A 22,722 Square Foot Industrial Building
Press Releases
Marcus & Millichap Arranges The Sale Of A 22,722 Square Foot Industrial Building
December 02, 2024
LinkedIn Email App
MESA, AZ, December 2, 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 AMR Mesa - 222 E Main, a 22,722 square foot industrial property located in Mesa, Arizona, according to Adam A. Lewis, regional manager of the firm's Denver office. The asset sold for $5,020,000.
Brandon Kramer and Maxwell M. Rist, investment specialists in Marcus & Millichap's Denver office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Regional Manager and broker Ryan Sarbinoff assisted in closing this transaction. MMCC originator Rob Cronenberg was able to provide up-to-date financing quotes.
Through a sharp, targeted marketing strategy, Rist secured a California-based 1031 buyer who already owned AMR-occupied assets, recognizing the unmatched value of these stabilized properties. The seller, based in Spokane, reaped the rewards of their value-add efforts and a long-term lease with AMR, the nation's largest emergency response provider. "This deal was all about precision-connecting the right buyer with the perfect asset," said Rist.
AMR Mesa - 222 E Main is located at 222 E Main St in Mesa, Arizona. The building is used as flex/office space and is an AMR tenant. 9-year lease with annual CPI adjusted rent escalations. Located directly off Main St in Downtown Mesa Arizona. Recently Renovated in 2023.
Brandon Kramer and Maxwell M. Rist, investment specialists in Marcus & Millichap's Denver office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Regional Manager and broker Ryan Sarbinoff assisted in closing this transaction. MMCC originator Rob Cronenberg was able to provide up-to-date financing quotes.
Through a sharp, targeted marketing strategy, Rist secured a California-based 1031 buyer who already owned AMR-occupied assets, recognizing the unmatched value of these stabilized properties. The seller, based in Spokane, reaped the rewards of their value-add efforts and a long-term lease with AMR, the nation's largest emergency response provider. "This deal was all about precision-connecting the right buyer with the perfect asset," said Rist.
AMR Mesa - 222 E Main is located at 222 E Main St in Mesa, Arizona. The building is used as flex/office space and is an AMR tenant. 9-year lease with annual CPI adjusted rent escalations. Located directly off Main St in Downtown Mesa Arizona. Recently Renovated in 2023.
# # #
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.