Phoenix — Marcus & Millichap has brokered the $2.1 million sale of a retail building located at 5349 W. Baseline Road in Phoenix. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, an undisclosed partnership, and procured the buyer, an undisclosed limited liability company, in the deal. O’Reilly Auto Parts occupies the 7,000-square-foot property, which was built in 2006. The tenant recently executed its first five-year renewal option with 10 percent rental increases every five years.
Marcus & Millichap Arranges $2.1 Million Sale of O’Reilly Auto Parts-Occupied Property in Phoenix