Marcus & Millichap Arranges $2.1M Sale of O’Reilly Auto Parts-Occupied Property in Phoenix
PHOENIX — Marcus & Millichap has brokered the sale of a retail building located at 5349 W. Baseline Road in Phoenix. A partnership sold the property to a limited liability company for $2.1 million.
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.
Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller and procured the buyer in the deal.